Will Companies Risk Moving Out of Florida?

By  //  August 25, 2020

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The coronavirus pandemic which troubled the whole world in 2020 has seen a massive outbreak in the United States which leads the world in both – number of infected and deceased. The country has imposed several lockdowns in various states but it does not help. Almost every day there are almost 50,000 new cases.

The coronavirus pandemic which troubled the whole world in 2020 has seen a massive outbreak in the United States which leads the world in both – number of infected and deceased. The country has imposed several lockdowns in various states but it does not help. Almost every day there are almost 50,000 new cases.

The US has also been affected economically. People lost their jobs, markets fell and it is unlikely the situation will resolve in the rest of 2020. Florida has been one of the most notable states where the pandemic has peaked greatly. There have been more than 600,000 cases in Florida already.

By taking a closer look at the situation in the United States the question arises – will companies risk moving out of Florida because of the pandemic?

At first glance the answer to this question looks obvious – yes, because the virus has devastated the regular life in numerous ways, by causing lots of problems. Shown more clearly on forexbrokerslist.org the country suffered economically, enterprises were shut down and what’s more the recession has reached heights not seen since The Great Depression.

But is this enough for companies to move out from the state? No, not really. This is especially the case with financial companies because most of the experts in this field live in Florida. They conduct business effectively there and it looks unlikely they will risk making this step.

Dynamics of the pandemic

The first case of COVID-19 infection in the United States was detected in January – it turned out to be a Washington State resident returning from a trip to Wuhan.

Two months later, in March, according to Johns Hopkins University, there was a sharp jump in diseases in the country, and this month the United States came out on top in the number of cases detected and has kept it since then.

In April and early May, the number of new infections did not exceed 36.4 thousand per day. In May and early June, the growth of diseases began to decline slightly: the maximum rate of new infections per day was no more than 27.6 thousand, and the minimum indicator dropped to 17.4 thousand (June 1 and 8).

However, in July, the number of infections began to grow again: on July 16, the record for the daily surge in infected was detected – 77.3 thousand.

At the same time, an American physician and one of the most prominent faces of the United States, Anthony Fauci, warned that the number of diseases could increase to 100 thousand per day if the population did not take actions to prevent the spread of the virus.

Since July 29, the daily rate of new infections has dropped from 70.8 thousand to 45.4 thousand and on August 4, President Trump announced the decline of the coronavirus in the United States.

Less optimistic on this issue was the coordinator of the White House working group on coronavirus, Deborah Birx, who announced on August 2 that the country was entering a new stage in the fight against coronavirus, which was spreading faster than in March or April, both in cities and in rural areas.

As a countermeasure, she urged Americans to wear masks and maintain social distance. As of August 24, over 5 million cases of infection and 180 thousand deaths from COVID-19 were recorded in the United States.

State of the economy

Despite high rates of infections and deaths in Florida and the rest of the country Donald Trump said the United States was coping with the pandemic very well given the size of the country.

Considering the fact that the United States is one of the largest countries in the world we can agree with Trump.

One of the consequences of the pandemic for Trump is reversing the positive trend in the economy, which the president mentioned as the main achievement of his first term in the White House. Last summer, the US recorded the longest cycle of GDP growth in history – it lasted 121 months (just over ten years, that is, it began under President Barack Obama).

The share of unemployment fell to its lowest level in 50 years last year, and American wages rose. However, amid the COVID-19 pandemic in the second quarter, the US economy fell by almost 33% at an annualized rate.

This recession has canceled all economic growth since 2015 and became a new anti-record since 1947, when the US government began collecting such statistics.

The downturn in the economy has been exacerbated by Americans’ negative attitudes toward Trump’s COVID-19 policies. 66% of American respondents disapprove of the president’s actions to combat the pandemic, 34% approve his actions (according to a survey conducted jointly by ABC News and Ipsos on July 29-30).

Overall, the disapproval rating for Trump’s work rose between late May and early June from 45% to 57% and remains at that level at the end of July.

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