Once the coronavirus crisis is over- how quickly can Florida's economy bounce back? It depends on how long the lockdown lasts says University of Central Florida economist Sean Snaith.
"The longer the lockdowns are in place the more damage that's getting done," Dr. Snaith says, "but then also our ability to rapidly bounce back gets diminished with longer periods of lockdowns."
Snaith says companies like Disney and Delta are going to come out of the other end of the pandemic.
"I don't know if that's true for small businesses- family-owned restaurants, coffee shops, small hair salons who have had zero revenue."
A record number of Floridians have filed for unemployment compensation- hundreds of thousands in just the last few weeks. Dr. Snaith says in just three weeks we've had more unemployment claims nationally than the entirety of the Great Recession and that was 16 months in the making.
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