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Economic Pulse: Week of 1/12/24

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)

Dr. Kamran Afshar has a Ph.D. in Economics and has taught at graduate and under graduate levels between 1978-88. He has vast experience in economic impact studies, feasibility studies, customer satisfaction surveys, and scientific competitive analysis.
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