Article Photos

PARKERSBURG -While federal officials point to signals that the recession may be ending, there seems to be some good news on the local economic front as well.

Local officials say they are cautiously optimistic, but predict it will take time for the Mid-Ohio Valley to get back the jobs that have been lost.

Robin Ollis Stemple, external affairs spokeswoman for DuPont Washington Works, one of the area's largest employers, said at the beginning of the recession, DuPont's Washington Works had about 500 contract partners in its variable workforce.

"Throughout the recession, the DuPont employment base has remained stable, but the variable force was down to 120 at our lowest point. In the last month to month and a half, that number has increased to 230, as customer demand has created higher need for production and the higher need for production has in turn created the need for more people to produce," Stemple said.

As for the future, Stemple said "we will continue to monitor the economic conditions every week and, as customer demand dictates, we will staff the plant based on the demand from our global customer base."

Wood County Assessor Rich Shaffer said home sales are also starting to pick up as well.

"It's still not up to what it was this time last year, but sales are starting to improve. Values are pretty flat, as far as an increase in valuation," he said.

"Normally the area traditionally sees around a 5 percent annual increase in appraised property values, in general," Shaffer noted. "We're holding our own in the area. I feel Wood County is very fortunate in that we haven't felt the recession like a lot of the other areas have, it depends on whether you are working or not how much the recession is here."

Officials noted some of the national numbers, like production figures and retail sales are edging up, which is also encouraging news.

"That's an indicator of consumer confidence," Shaffer said.

Joyce Okes, program director with WorkForce West Virginia, said she's seen some signs of improvement as well.

"We have definitely seen the number of layoffs slow down, at least since August," Okes said.

While not a scientific method, Okes said she has noticed more help wanted signs being posted by area businesses.

"As the economy improves, the job recruitment becomes more active. If an establishment is getting enough applications without advertising they don't post those signs. But as there is improvement, they begin advertising more, more actively recruiting. It's a small symptom of an improving economy to see those help wanted numbers go up," she said.

Unemployment statistics for Wood County dropped two-tenths of a percent to 9.6 percent in August, according to information from WorkForce West Virginia. About half the 55 counties reported rising unemployment in August, according to the latest Labor Market Information report. The unemployment rate in the state as a whole rose two tenths of a percent in August to 8.6 percent.

Two of the five counties with the worst unemployment were in the Mid-Ohio Valley, Jackson and Calhoun counties, at 13.2 and 13.4 percent, respectively. The worst unemployment rate was in McDowell County, 14.1 percent. Unemployment in Wirt County dropped from 14 percent in July to 11.8 percent in August.

Wood County commissioner Blair Couch, who is also a small business owner, remains optimistic.

"You still see businesses closed, homes for sale, so I think there is still some contraction in our area. I haven't noticed a lot of people taking vacations, and unfortunately I'm still seeing a lot of people moving out for lack of work, seeing people going to greener pastures," he said. "Although some of the counties in the state are doing all right, you look around us and see counties really being affected by the unemployment rate, where they have 14-15 percent unemployment rate, that affects us as well, it's a regional issue. We really need new jobs, new construction," Couch said.

"It's going to take some time to get back to where we were a year ago, it would take a lot of hiring. And while the larger firms in the community may be seeing an increased base of global demand, there is still a lot of unemployment in the flat small business community. I think we have always been a rubberband. We may not suffer, but eventually it will come back," Couch said. "But I think people are still being careful right now."

According to the U.S. Bureau of Labor Statistics, in mid-September, the Consumer Price Index for Urban Consumers increased 0.4 percent in August after being unchanged in July. The index for all items less food and energy increased 0.1 percent in August, the same increase as in July.

Federal Reserve Chairman Ben Bernanke said in mid-September that it could take years for the economy to fully recover from the "severe contraction," even as new, dismal data on housing and consumer confidence underscored the depth of the historic recession. At the same time he noted: "If actions taken by the administration, the Congress and the Federal Reserve are successful in restoring some measure of financial stability - and only if that is the case, in my view - there is a reasonable prospect that the current recession will end in 2009 and that 2010 will be a year of recovery," Bernanke told the Senate Banking Committee.

While stocks went up after his comments, he also told Congress: "Even if financial markets revive, however, federal policymakers believe a full recovery is likely to take more than two or three years."