In the past year, the COVID-19 pandemic has greatly changed the world, with much of the country implementing various measures to minimize the negative health and economic impacts of widespread infection. State responses to the pandemic have been diverse and complex, with some instituting strict restrictions on businesses and others rolling back restrictions at a faster pace. At the same time, vaccine rollouts are accelerating, and state economic recoveries seem to be on varied paths with some approaching pre-pandemic levels of employment faster than others. The present analysis offers a cursory look at the relationship between state COVID-19 restrictions and their respective economic recoveries by running a preliminary correlation test between the two measures.
Florida’s economy depends in large part on the availability of reliable and affordable electric power. Like most states, Florida has a regulated energy market that considers electric power to be an essential service for its economic well-being.
Small businesses are major drivers in the U.S. economy, spurring local job creation and innovation while also fostering entrepreneurship among women, minorities, veterans, and other portions of the population.
As Florida continues to deal with the constantly changing COVID-19 pandemic, questions remain as to how the state will reverse one of the worst recessions in history while at the same time maintaining prudent public health and safety measures. The difficulty lies in the unequal manner in which the virus has wreaked havoc on the state’s various economic sectors. Due to the varied effects, understanding the nature and scope of each sector’s unique pandemic challenges is crucial to providing substantive policy recommendations going forward.
As the impacts of the COVID-19 pandemic continue to be felt by Florida’s businesses, non-profits, schools, colleges and universities, and healthcare providers, employers of all types are fearful of keeping their business open or reopening their business because of the threat of opportunistic, predatory, and expensive litigation resulting from alleged exposure to COVID-19 when they are taking proper precautions.