Steve Scranton, CFA’s analysis highlights a steady economic performance for the Tri-Cities thus far in 2024. Despite a slight rise in unemployment, the region's resilience is supported by strong construction activity and population growth, fueled by relocations from larger cities. Scranton emphasizes the importance of proactive planning in housing and infrastructure to sustain this growth. The bifurcated economy remains a concern, with inflation impacting lower-wage earners more significantly.
I’d say the Tri-Cities economy has been chugging along, just like the U.S. economy. Even though everybody thought we were going to be at risk of a recession last year, we’ve just discovered that business has been continuing pretty solid.Steve Scranton, Chief Economist