Economists for the legislative and executive branches issued their biannual report on the state economy Monday. They say that Vermont is on pace to continue its slow recovery from the Great Recession.
Economists say they see several indicators nationally that bode well for Vermont over the next year, including a drop in the number of Americans dealing with long-term unemployment.
Economist Jeff Carr says another bright spot is that fewer people have given up looking for work, and he says home construction numbers are also beginning to firm up nationally.
“We’re starting to see the types of things that we’ve been waiting to see the last two or three years,” Carr says.
Lawmakers earlier this year approved a fiscal year 2016 general fund budget that assumes about 3 percent growth in state revenues. Economists say the state looks to be on track to meet those projections.
Vermont continues to have one of the lowest unemployment rates in the country, though growth in personal income withholding taxes continues to stagnate.
