Slow growth and slow recovery continue to be the key words for economists predicting Vermont's economic fortunes over the next five years.
The latest forecast from the New England Economic Partnership actually reflects a slight downgrade from six months ago, due in part to concerns about fiscal cliff, the debt crisis and Europe's weak economy.
Among the predictions: progress will remain at a historically slow pace in the short term, with another 9-12 month delay before the recovery really takes hold.
Job growth is expected to be historically slow, averaging only 1.3 percent per year over the next five years. That would mean it will be late in 2014 before the number of jobs in Vermont is back to the pre-recession level.
Vermont economist Jeff Carr says if we get through the looming fiscal cliff, the economy should be positioned to return to normal performance.
"The fiscal cliff is already having an effect. People aren't hiring people. They're not making investments. And the issue is can we navigate through this period where the economy is still weak and do what we need to do to make a credible reduction in federal budget deficit without harming the performance of the economy," said Carr of Economic & Policy Resources.
Sunday, May 19 2013 12:06 AM EDT2013-05-19 04:06:03 GMT
Vermont State Police have charged 22-year-old Adam Page of Newport for stealing the Newport City Elementary School bus, which has now been declared totaled. A stolen dog was also recovered in the busMore >>
State Police say he is also being charged with the theft of two other vehicles and a woman's dog.More >>
Saturday, May 18 2013 11:45 PM EDT2013-05-19 03:45:20 GMT
State police are looking for the person responsible for stealing a school bus and taking it for a joyride in northern Vermont. Troopers say the 2014-model bus belonging Newport City Elementary SchoolMore >>
Police say the school bus belonging to the Newport City Elementary School was taken for a joy ride Friday night.More >>
Saturday, May 18 2013 10:10 PM EDT2013-05-19 02:10:53 GMT
A fatal accident in Lyndon Saturday. It happened around 2:30 Saturday afternoon on Route 122. Police say 76-year-old Gerda Blaszczyk of St. Johnsbury swerved to avoid an animal. Her car travelled up anMore >>
Police say the driver swerved to avoid an animal.More >>
Saturday, May 18 2013 8:03 PM EDT2013-05-19 00:03:45 GMT
Senator Bernie Sanders is touring the state this weekend with a special guest. Sanders and the Danish Ambassabdor to the United States are hosting town hall meetings in Burlington, Brattleboro and Montpelier. TheMore >>
Sanders and the Danish Ambassabdor to the United States are hosting town hall meetings.More >>
Saturday, May 18 2013 7:56 PM EDT2013-05-18 23:56:03 GMT
Saturday marked a new beginning for Castleton State College students. "Were all gathered here, getting fired up, having a good time," explained Castleton graduate, David Carrier. The 500 graduates hadMore >>
It's graduation day for the class of 20-13 at Castleton State College. And just for the occasion, the college invited back an alumnus with a strong connection to the school.More >>
Saturday, May 18 2013 7:51 PM EDT2013-05-18 23:51:14 GMT
Young bikers were learning the rules of the road in South Burlington Saturday. Kids who brought their bikes to the Dorset St. Park received free checks for their brakes, chains, and tires. Helmets alsoMore >>
and much more... making sure kids are safe before they hit the roads this summer.More >>
Saturday, May 18 2013 7:49 PM EDT2013-05-18 23:49:26 GMT
On a sun-soaked Saturday, Karen Trayah and her dogs enjoyed the sights, sounds, and of course smells of a festival for fidos. "It's called Woofstock, however, this is our 1st year doing it here at theMore >>
Making sure our furry friends have a place to call home.More >>
Friday, May 17 2013 7:54 PM EDT2013-05-17 23:54:10 GMT
The door to room 118 at the Liberty Inn and Suites is gone-- busted by police during an early morning drug raid. They say tenant Julie Herron, 41, was selling heroin out her room. She was living thereMore >>
A South Burlington drug bust exposed new abuses of the state's homeless voucher program. A couple was arrested for selling heroin out of their motel room, and police say the state was footing the bill for their stay.More >>