Tag: John Deskins

WVU Economist Estimates Opioid Epidemic Cost State $1 Billion

West Virginia University’s chief economist estimates the opioid epidemic has cost the state economy nearly $1 billion from deaths, lost or underperformed jobs and public resources.

John Deskins, director of WVU’s Bureau of Business and Economic Research, says the estimate includes $322 million in productivity lost from fatalities, $316 million in productivity lost from addicted people working below peak levels and $320 million tied up in health care, addiction treatment and police, courts, jails and prisons.

West Virginia recorded 884 overdose deaths last year, most involving at least one opioid, with 558 fatalities through mid-October this year.

Deskins says the state economy has improved from the dip in the energy industry over the past two years, but says progress would be greater without the strain from the drug epidemic.

Job Growth in Eastern Panhandle Expected to Continue Upward Trend

An annual Eastern Panhandle Economic Outlook conference was held in Martinsburg, showing job growth is steady in the Eastern Panhandle and is expected to grow in the coming years.

Director of the West Virginia University Bureau of Business and Economic Research John Deskins presented the findings at the conference.

He explained the Eastern Panhandle continues to be a leader in job growth, because of location, increased population, access to better education, and business investments. 

“There’s been no recession here,” Deskins noted, “I mean, the state’s lost a lot of jobs between 2012 and 2016, and this area’s continued to grow at a healthy pace during that period.”

Deskins said that trend will likely go up as more investors like Procter & Gamble look to set up shop here.

WorkForce West Virginia reported in September that Jefferson County has the lowest unemployment rate in the state at 2.8 percent, while Mingo County has the highest rate at 8.2 percent. Overall state unemployment is at 4.4 percent, which is higher than the national average.

Deskins argues West Virginia counties that are struggling should focus on ways to make themselves more attractive to potential businesses, such as improving transportation infrastructure and cultivating a healthy workforce.

W.Va. Economy on the Rise Through 2017

Economists at West Virginia University say the state’s economy will continue to see solid growth by the end of 2017. It’s the highest level since 2015.

West Virginia’s economy has increased by 2 percent over the past year, according to the Mountain State Business Index.

Last month, the index jumped three tenths of a percent. That growth is mostly attributed to a 4 percent increase in coal production from July.

Director of the WVU Bureau of Business and Economic Research John Deskins predicts West Virginia will “post moderate growth over the next several months,” but says it will probably take years for the state’s job market to bounce back to levels it saw prior to 2012.

The business index is produced by WVU’s Bureau of Business and Economic Research. Economic indicators determine the index, including building permits, unemployment insurance claims, the value of the U.S. dollar, stock prices related to West Virginia employers, interest rates, coal production, and natural gas output.

WVU Researchers Say State's Economy Is Recovering, Slowly

West Virginia University researchers say economic indicators show West Virginia is further emerging from a recession.

The university said in a news release that the Mountain State Business Index has posted gains in four of the past six months. The index combines seven economic indicators to measure the expected swings in the state’s economic activity.

But the statement says the state’s recovery from the recession has been lackluster compared to previous business cycles due to the devastating floods in June and other economic issues.

WVU Bureau of Business and Economic Research director John Deskins says it remains uncertain if stronger economic growth will occur in the coming months.

Report: Morgantown Cost of Living 3.7 Percent Above National Average

A study conducted by West Virginia University’s Bureau of Business and Economic Research and the Council for Community and Economic Research says on average, the cost of living in and around Morgantown is 3.7 percent higher than the national average. That’s up a half a percentage point from the previous year. 

Two major spending areas — housing and health care costs – didn’t contribute to the increase, but miscellaneous goods and services- things like restaurant meals, clothing, and entertainment- account for most of the hike.  

In a press release Monday, BBER director John Deskins says housing costs actually dropped in the Morgantown area by more than 7 percent over the past year. During that same time period, health care costs declined by nearly 3 percent.

The report says Morgantown also has below-averages costs for groceries, transportation and utilities. 

Economic Report Indicates West Virginia is in Recession

A new report indicates that West Virginia is in an economic recession.

The Register-Herald reports that the Mountain State Business Index has found that West Virginia has seen deterioration in economic activities since the spring of 2015.

The economic recession has been largely a result of the decline in the coal industry. The index found that in March there was a 3.1 percent month-to-month decline in coal production. It also found that there were month-to-month gains registered for natural gas production.

The index combines seven economic indicators to measure the expected swings in the state’s economic activity.

John Deskins, director of West Virginia University’s Bureau of Business and Economic Research, says the state’s recession is expected to continue into the summer. He says that outcomes vary across the state.

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