No surprise -- we depend heavily on tourism...beaches, theme parks, tourist attractions and restaurants are closed.
Economists predict Florida's unemployment rate is in the double digitsSOUTHWEST FLORIDA - A shocking new report released by an FGCU economist reveals one Southwest Florida industry has lost more than 90% of business as a result of the COVID-19 pandemic.
That report came the same day that the state released its unemployment numbers that put the March rate at 4.3%, however, in reality, the unemployment rate now is much higher because the state report only counted laid-off workers before March 12. That date was before the coronavirus did most of its damage and the governor ordered the stay-at-home order.
Some economists are predicting the state's unemployment is in the double digits.........
.............Hotels have lost 92% of their business, entertainment and restaurants lost more than 85% of their business. Retail was down 74% and even healthcare providers report losing 50% of their business.
"Nationally some of the predictions is we will be at 25 to 30%. I’ve even seen higher numbers in terms of unemployment," Westley said............
https://www.nbc-2.com/story/42021445/economists-predict-floridas-unemployment-rate-is-in-the-double-digits
