Economic recovery slow, report says
New England won't see a full recovery from the economic recession until mid-2013, according to a report from the New England Economic Partnership.
The report, authored by University of New Hampshire economist Ross Gittell, said that the region's unemployment rate will continue to rise, peaking at 9.3% in the first quarter of 2011, fueled by growth in the labor force and the return of unemployed who had previously put off finding work, according to the Associated Press. The region lost 366,000 jobs, or 5.2% of total employment, over the past two years, and the number of jobs won't return to pre-recession until 2013. All states, however, are projected to see slow employment growth by the end of the current quarter.
Overall, the New England region has fared better than the rest of the country, due to growth in the professional and business sectors. Through the end of 2013, Maine and New Hampshire are projected to have the highest percentage of growth in total employment among the six New England states, according to the AP.
Go to the article from the AP >>
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