Job descriptions: economist sees N.H. employment recovery being delayed by 2 years.
New Hampshire won't regain all of the jobs it lost during the recession for another two years, according to Dennis Delay, New Hampshire forecast manager for the New England Economic Partnership.
Delay, in a conference call with reporters last month, amended an earlier estimate for job recovery from the spring of 2012 to the spring of 2013.
Delay described the job recovery as "not as buoyant" as he had expected six months ago.
The prediction comes despite an encouraging jobs report for April. The state's unemployment rate fell to 4.9 percent, the first time it has gone below 5 percent for the first time in 2 1/2 years.
Delay said a third of the drop in unemployment over the past year is because of a decline in the overall labor force, not job creation. Usually, there are two reasons for that: People move out of the state or just give up on looking for jobs, he said.
"It's something that economists refer to as the discouraged worker factor," Delay said.
If the labor force hadn't declined, he said, the unemployment rate would still be about 5.3 percent.
--ASHLEY SMITH/THE TELEGRAPH
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|Publication:||New Hampshire Business Review|
|Date:||Jun 3, 2011|
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