YOUNGSTOWN, Ohio (WKBN) – Those looking for an improvement in the economy might be in for good news.
The annual Youngstown/Warren Regional Chamber Economic Forecast Breakfast was held Thursday morning. Economic professionals discussed the latest trends in the oil, auto industry and housing markets at Mr. Anthony’s in Boardman.
Economists said the average wages are increasing, and local economic development is expected to continue.
The latest statistics of how Youngstown compares to the nation in multiple job sectors were shown. There is more local employment in education, but less in business services.
“2016 was a very hard year for the steel industry. All signs are that 2017 is going to be a stronger year, and I think that is going to have positive affects in the Youngstown area. Another important trend we have seen in the Youngstown area is that house prices have begun to rise,” said Economist Dr. Joel Elvery.
Elvery says the housing cost is up more than two percent, which means household wealth has increased.
Thursday, Boardman’s Molded Products was also awarded for Excellence in Manufacturing.