2023 year in review...
The economy grew at an annual rate of 3% during the first three quarters of 2023. Based on current data, economic growth in 2023 is expected to be around 2.5%, which is better than the average for this century. The average unemployment rate for 2022 and 2023 was 3.6%, also this century’s lowest annual average. The Valley’s average unemployment rate during the first 11 months of 2023 was 3.9%, yet another lowest for the century. Technically speaking, the economy is in a very good place.
Click here for the latest Lehigh Valley Economic Review.
Listen to Economic Pulse Fridays at 5:44 PM during All Things Considered; Mondays at 7:30 AM during Morning Edition.
(Original air-date: 1/12/24)
