Like the nation, the Virginia economy experienced a recession and remains inactive with continuing job losses. Economic growth in Virginia was weaker than expected in 2002, with employment and income growing well below forecasted growth rates. The Virginia economy suffered many job losses for the first time since the early 1990’s recession. Nonagricultural employment fell by 0.8 percent, well below the official forecast of 0.5 percent growth. Particularly hard hit was the manufacturing industry.
Economics is an important and exciting subject. How
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