A new report from New England Economic Partnership says Maine's economy is showing signs of a faster-than-anticipated rebound, and that job growth could bounce back to pre-recession levels by 2015 instead of 2017.
The nonprofit said an improvement in the national outlook is also brightening Maine's forecast, with job growth expected to increase 1% each year between 2013-2016, according to the Portland Press Herald. That's the fastest growth rate in 10 years. The unemployment rate in New England, meanwhile, is expected to stay above 6% until 2015. The weak housing market is expected to continue to impact the economic recovery.
Nationally, the economy is predicted to grow a little more slowly, with the unemployment rate expected to drop to around 7% by the end of 2013, according to the paper. The country should add about 2 million jobs in 2012 and 2013. Economic growth in the first quarter of this year, however, was slower than anticipated, growing only 1.9%, below the expected 2.2%, according to The Associated Press.
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