Economists: Regional Economy "Precarious"
The New England economy is still in a "precarious" position but will outpace the weak national economy in the coming years, according to the fall economic forecast from the New England Economic Partnership.
The region's economy will be have stagnant growth for the next nine to 12 months but then will pick up strength, the forecast predicts. The region's economic growth will outpace that of the nation through 2012, when the national economy will begin to outpace the region's, forecasters predict.
Economists are expecting similar trends in employment with the regional labor sector recovering above the U.S. average, but still at slow growth rates until the middle of 2012. Economists said there is a "long road to employment recovery" and they don't expect the labor force to return to pre-recession levels until the third quarter of 2013.
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