Experts Say Texas' Economic Impacts From COVID-19 Could Last Years

Economists are suggesting that Texas' economy may not fully recover from the impacts of COVID-19 for a few years. President of Austin-based Prestige Economics Jason Schenker says the state's economy will probably not get back to normal for about two years, and it may take four to six years for the job market to recover. One reason as to why is the damage the pandemic has inflicted on the oil and gas industry, which is integral to the state's success. Oil prices have plummeted to a fraction of what they were in the beginning of the year. Schenker added that consumption is about 70% of the economy and the state's rebound depends on that factor.

Sponsored Content

Sponsored Content

102.3 THE BEAT · Austin's Home for Hip Hop and Hits
Listen Now on iHeartRadio