Shaky Outlook for NH Economy
A forecast released today warns that the New Hampshire economy is skating on thin ice.
The report from the New England Economic Partnership says that acceleration from private-sector job creation has been partially offset by a shrinking public sector.
Economist Dennis Delay also says that employment and the housing market have not rebounded as quickly as expected.
He says that if growth had continued at the same pace as in 2008, there would be fifty-thousand more jobs in the state than there are today.
Delay: we don’t expect to get back to that level of jobs in the state until well beyond 2015
The report foresees lackluster, 2.6% annual growth for the next five years.
Delay says that with growth this feeble it’s within the realm of possibility that the economy could slide back into recession.