The Recession's Impact on West Virginians
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Posted: 8:02 PM Dec 2, 2008
The Recession's Impact on West Virginians
Now that economists officially say the country is in a recession -- one that started nearly a year ago -- what does that mean locally?
Reporter: Will Jones
Email Address: will.jones@wsaz.com
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CHARLESTON, W.Va. (WSAZ) -- Now that economists officially say the country is in a recession -- one that started nearly a year ago -- what does that mean locally?

Steve Sears, a financial analyst in Charleston, said although the nationwide economy is failing, West Virginia's economy gets a passing grade. He even described the state's economy as "vibrant."

"In West Virginia, we are not in a recession," he said. "We have one of the lowest unemployment rates in the country."

Some West Virginians, however, said times are not as easy as they used to be, and they're cutting back on spending. Sears said having a budget and sticking to it is smart during uncertain economic times.

West Virginia is not totally immune to the national economic situation. Sears said two reasons the state is not struggling are that it never experienced the boon in the real estate market and the coal industry has remained strong.

For more, including comments from West Virginians concerned about the economy, click on the video link above.

Latest Comments

Posted by: Doug on Dec 4, 2008 at 10:13 AM

I guess it is the lowest, All the ones with the abilities have left the state and the ones with the disabilities aren't able to go or can't afford to. At least all the dirtbag coal trucks are still slinging mud up and down these filthy roads. We won't even have these jobs long if Old bomer gets his way. If the auto workers listens to these new deals they will be working for slave labor soon too. Their unions have already started talking the talk to do away with their benifits too. Sound familiar coal miners? The only thing that ever worked in the coal mine unions was, we all work or nobody works anywhere.
Posted by: anon. on Dec 3, 2008 at 01:08 PM

Unemployment is low because half the state is on disability and social security.
Posted by: bae on Dec 3, 2008 at 11:46 AM

We are at the bottom of the barrel and the rest of the country is finally coming down to our low standard of living, we accept poverty easily. we do try to take care of our own with what little we are able to make. Most of my family has moved to other areas just to have a decent life.
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