Region to return to past job levels in 2013, report finds
BOSTON – A new forecast says New England will not return to pre-recession job levels until the middle of 2013.
University of New Hampshire economist Ross Gittell, the author of the forecast, says the worst is over and the economy is turning a corner. But it will take an extended period of time to recover the nearly 366,000 jobs lost in New England over the past two years.
The New England Economic Partnership produced the forecast. It says that all six states are expected to see employment growth by the end of the current quarter, but the region's unemployment rate will continue to rise to a peak of 9.3 percent by the start of 2011.
Gittell says the unemployment rate is likely to continue rising because the labor force is expanding.