Published On May 6, 2024
"Stagnant," "delicate," and "great" are all words some Hampton Roads residents of all ages use to describe the state of the American economy. So, why are views on the economy so split? Economic experts have been highlighting good economic indicators for months, such as low unemployment sitting at 3.8%. However, there are clear signs of struggle. "The overall health of the economy is still growing positively," said TCC Professor Emeritus of Business Administration Peter Shaw. But that's while average prices have risen 19% coming out of the COVID-19 pandemic. Shaw says the popular prediction by economic analysts is that the economy, now growing at 1.6%, will begin to slow down in the second and third quarter of this year.
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