Economic Update with Tom Barkin

Tom Barkin, President & CEO of the Federal Reserve Bank of Richmond, joined us for an economic update to discuss the economy, recent Fed actions and prospects for recovery.

A few highlights from his presentation include:

  • the U.S. unemployment rate continues to drop to 6.9% – In South Carolina, the September numbers for unemployment were 5.1%
  • 10.1 million fewer jobs in this country than were in February
  • Manufacturing, Technology and Healthcare continue to do well, but are having trouble finding workers to fill their open positions
  • 2021 looks promising on the business side, but he envisions there will be a spike in government spending

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