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Economic recovery strong for North Central West Virginia, but there’s still work to be done

By Lori L. Riley, Times West Virginian

FAIRMONT, W.Va. — West Virginia’s unofficial chief economist offers a mix of good and bad news for the economic outlook for North Central West Virginia.

In his research, John Deskins, director of West Virginia University’s Bureau of Business and Economic Research, compared past economic performance with the condition of the region’s economy since the pandemic.

“We’ve seen collapses of similar magnitude, but we’ve never seen anything that fast,” Deskins said, addressing the Bridges Without Boundaries business summit held Tuesday at the Robert H. Mollohan Research Center in Fairmont. “We went from 5 percent unemployment to 16 percent unemployment over the course of two or three months. Totally, totally unprecedented in economic history. We’ve never seen anything that fast.

“Normally, economic recessions happen because of problems with the economy. But last year, the economy was moving along at least somewhat OK – and many people would argue fairly well at the beginning of last year – and then we have this economic recessions, and its origin isn’t in economics at all. Its origin is in public health,” Deskins said…

To read more: https://www.timeswv.com/news/local_news/economic-recovery-strong-for-north-central-west-virginia-but-theres-still-work-to-be-done/article_90110b20-36af-11ec-8867-df784fcba510.html

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