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Reflecting on the Historic Financial Crisis: 5 Years Later
Written by Your 5News Team
Last updated on September 15, 2013 @ 9:19PM
Created on September 14, 2013 @ 5:13PM

The government has been very busy over the past several weeks dealing with the crisis in Syria. Another issue they will now be focusing on this month is, once again, is finding a short term budget fix.

This all comes into play just in time for the five year anniversary of the historic financial crisis back in 2008.

The historic recession led to the bust of the housing market bubble, which caused home prices to lose a lot of their value. The stock market took a big hit from that, and led to massive job loss throughout the country and even the world.

5 News wanted to see how you thought the economy is doing. One person we talked to works in the coal industry, and he said while the economy seems to be doing better as a whole, it's still hurting the gem of our state: the coal industry.

"They're hurting our coal industry. It could be better, but it is what it is," said Shawn Stevens, of Fairmont.

The unemployment rate skyrocketed all the way to 11% when this all happened. Since the recession, it's dropped to about 7%.

On a more local level, Morgantown was recently named as one of the best small cities in America during the recession because of it's booming economy. The University City has an unemployment rate of just 4.5%.

Regardless of the facts, some of you are still uncertain about the status of the economy.

"Wages and the standard of living might be going up, but I think the economy has leveled off about the same," said John Trent of Doddridge County.

President Obama is expected to speak on the status of the economy later this week with top U.S. officials.

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Comments (1)
Sep 16, 2013 at 8:36 AM
America is surviving because of its people and NOT the so called govt leaders we have that are destroying this country, I really think America would be a lot better without them,they are definitely a WASTE of money!!
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