>Grim portrait of recovery at New Jersey economic summit
Slow, steady, and grinding: That’s the read on the recovery offered by economists gathered at yesterday’s Garden State Economic Forum.
It may take the state four years to get back on track, said Loretta Mester, director of research at the Federal Reserve Bank in Philadelphia.
“There is pain here,” she said of New Jersey’s high unemployment rate.
The economists who took the stage Monday presented data to help shape public policy on jobs, taxes, and spending at a time when economic growth is not expected to rise above 3 percent. Despite overall high unemployment, however, patterns emerge when the data is analyzed, including sectors where there are jobs, especially for workers with advanced degrees. (Lehren, NJ Spotlight)
