Ep. 222 | Economic Insights: Navigating Post-Pandemic Recovery in Florida | Florida SBDC SBSS 2023 Series
In this enlightening episode, we're honored to host Dr. Jerry Parrish, a distinguished economist and faculty member at Florida State University. With his wealth of experience, Dr. Parrish delves into the intricate landscape of pandemic recovery, providing valuable insights on Florida's economic journey. Reflecting on the pandemic's impact, Dr. Parrish highlights Florida's resilience and rapid job recovery, overcoming the loss of almost 1.3 million jobs within a remarkable 18-month period. He underscores Florida's diverse economy and its ability to nurture growth even during challenging times. Discussing economic trends, Dr. Parrish reveals how Florida's focus on professional and business services has fueled job growth, thus diversifying the state's economic landscape. He sheds light on the positive impact of this diversification on smaller towns and counties, promoting population growth and economic revival. Addressing the broader economic outlook, Dr. Parrish offers insights into the US economy's trajectory, forecasting a potential recession in late 2023 or early 2024. However, he optimistically highlights Florida's ability to weather the storm more effectively than during the 2007-2008 recession, with a shorter and shallower downturn. Dr. Parrish discusses the Federal Reserve's role, emphasizing the importance of responsible fiscal management to prevent an escalating debt crisis. He explains how Florida's sound financial standing shields it from some of these concerns. Join us for an episode that demystifies economic complexities, revealing opportunities for recovery, growth, and informed decision-making. Recorded live at this year’s Florida SBDC Network Small Business Success Summit hosted at The Westin Fort Lauderdale Beach Resort.