By Jeff Wallace, Ph.D., Research Associate Professor, Sparks Bureau of Business and Economic Research
The nation’s economy through the Spring of 2019 has grown for several years straight, producing one of the longest economic expansions in U.S. history. Labor markets are at full employment. Labor shortages are an impediment to increasing economic growth rates, both locally and nationally. Unemployment rates, a key indicator of the performance of the local economy, have been at full employment levels and are expected to remain there throughout 2019.