While Chances of a Recession in Florida Are Increasing, Florida’s Economic Diversification Ranking is Also Strengthening

By: Florida Chamber Foundation

“Since April 2019, the probability of a Florida recession in the next nine months has increased substantially.”

– Dr. Jerry Parrish, Chief Economist, Florida Chamber Foundation

TALLAHASSEE, FL (August 21, 2019) – The probability of a Florida recession over the next nine months has increased to 34.2 percent, according to Florida Chamber Foundation Chief Economist Dr. Jerry Parrish, in the latest in a series of metrics-based educational videos.

While the chances of a recession are increasing, so is Florida’s economic diversity ranking. Florida is now the 18th most diversified state economy.

The latest Florida jobs and employment numbers show that Bay and Gulf Counties are still struggling from Hurricane Michael – leading in the percentage of jobs lost over the past year. 

“This doesn’t mean we’re destined to have a recession, but the reduction in business investment that’s happening, along with the global slow down do increase the odds of it happening,” said Parrish.

Watch the video HERE.

Established in 1916 as Florida’s first statewide business advocacy organization, the Florida Chamber of Commerce is the voice of business and the state’s largest federation of employers, chambers of commerce and associations aggressively representing small and large businesses from every industry and every region. The Florida Chamber works within all branches of government to affect those changes set forth in the annual Florida Business Agenda, and which are seen as critical to secure Florida’s future. The Florida Chamber works closely with its Florida Political Operations and the Florida Chamber Foundation. Visit www.FloridaChamber.com for more information.