Local Economy Improves On Every Measure, But Wages Still Lag
I released my 3rd Quarter Economic Report earlier today, and there is more and more encouraging news about our local economy. In both Lucas County and the City of Toledo, the economy was stronger in the 3rd Quarter of 2014 than it was during the 3rd quarter of 2013 on every single statistic we measure. On unemployment, sales tax receipts, auto sales, and home construction / remodeling, the local economy is moving in an unmistakably positive direction. However, since wages still remain stagnant, many residents of our community still have not reaped the benefits of the improving economy, and as a result, feel as though the ecomomy has not gotten better or has even gotten worse. WTOL-Channel 11 did a story on the report, which you can read by clicking here.
You can read a summary of the report by clicking here or the full report by clicking here.