Forecast: Florida’s economy will grow in 2020 but not enough housing
State’s unemployment rate expected to drop 3%, forecast says
ORLANDO, Fla. – Florida’s economy will grow in 2020, but the state will experience growing pains from a lack of housing and a weak transportation network, according to a recently released forecast.
The forecast, released late last month from the University of Central Florida, said that Florida’s equivalent of gross domestic product -- the value of all goods and services -- will grow by 2.8% in 2020 and 2021, but it will slow down to 2.4% in 2022.
The forecast says labor force growth in Florida will average 1.6% annually over the next three years.
It also predicted that Florida’s unemployment rate would drop to 3% this year.
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