Vermont lags as economy bounces back - WCAX.COM Local Vermont News, Weather and Sports-

Vermont lags as economy bounces back

Posted: Updated:
BURLINGTON, Vt. -

Recovery-- it's a word many Vermonters are waiting to hear. But they might be waiting longer than the rest of the nation. At the 22nd Vermont Economic Outlook Conference in Burlington, economist group Northern Economic Consulting looked at the Vermont economy today versus in the next two years. According to the conference, 2013 will be a big recovery year for the nation, but not Vermont.

"We will be growing, just not as fast as we would like it. And slow will continue as far as we can see for Vermont," said Richard Heaps of Northern Economic Consulting, who organizes the Vermont Economic Outlook Conference.

The conference projects Vermont will add 2,500 jobs in 2013. Government jobs will be sparse, but professional and business services will lead that force.

"That sector grew well in 2012 and again in 2013. That's the best story in the Vermont economy; what's happening to that sector," Heaps said.

And we can't forget about the graying of our state. Economists say this will be a problem yet again in the years ahead.

"In Vermont we have a demographic problem; our labor force is shrinking, so when businesses picks up there are not people to hire. And as a result, we won't see that gain in employment and spending that occurs with that," Heaps explained.

Experts say Vermont's current unemployment rate of 5.3 percent is expected to fall to 5 percent by the end of 2013, entering a long-term decline.

According to economists, Vermont will also see a slight gain when it comes to income in 2013.

  • Local NewsMore>>

  • Rutland pharmacist accused of stealing meds

    Rutland pharmacist accused of stealing meds

    Wednesday, April 23 2014 11:43 PM EDT2014-04-24 03:43:47 GMT
    In Rutland a pharmacist is accused of stealing meds from his employer. 32-year-old Brandon Cigana worked at the Walgreens Pharmacy on Woodstock Avenue. Prosecutors say he used his position there to access the pharmacy's inventory stealing regulated drugs like benzodiazepines, Hydrocodone and Suboxone for himself without a prescription. The Whitehall, New York man faces up to two years behind bars.More >>
    In Rutland a pharmacist is accused of stealing meds from his employer. 32-year-old Brandon Cigana worked at the Walgreens Pharmacy on Woodstock Avenue. Prosecutors say he used his position there to access the pharmacy's inventory stealing regulated drugs like benzodiazepines, Hydrocodone and Suboxone for himself without a prescription. The Whitehall, New York man faces up to two years behind bars.More >>
  • Drug bust in Burlington's Old North End

    Drug bust in Burlington's Old North End

    Wednesday, April 23 2014 11:44 PM EDT2014-04-24 03:44:04 GMT
    Police made a drug bust Wednesday night in Burlington's Old North End. Police and the U.S. Marshal's raided this home on Cedar Street around 8 o'clock. They say they seized heroin and cocaine. Six people were inside when authorities went in. But they're not saying how many arrests were made. The raid was part of an ongoing drug investigation.More >>
    Police made a drug bust Wednesday night in Burlington's Old North End. Police and the U.S. Marshal's raided this home on Cedar Street around 8 o'clock. They say they seized heroin and cocaine. Six people were inside when authorities went in. But they're not saying how many arrests were made. The raid was part of an ongoing drug investigation.More >>
  • Fire damages Lyndonville tree farm

    Fire damages Lyndonville tree farm

    Wednesday, April 23 2014 11:44 PM EDT2014-04-24 03:44:21 GMT
    Fire has damaged ten acres of a Lyndonville tree farm. Eight department were called in to battle the blaze. And it took four hours to get the flames under control. Fire officals say a discarded cigarette combined with dry conditions are to blame. One firefighter suffered from minor smoke inhalation.More >>
    Fire has damaged ten acres of a Lyndonville tree farm. Eight department were called in to battle the blaze. And it took four hours to get the flames under control. Fire officals say a discarded cigarette combined with dry conditions are to blame. One firefighter suffered from minor smoke inhalation.More >>
  • A warning for bird watchers: Give eagles space

    A warning for bird watchers: Give eagles space

    Wednesday, April 23 2014 11:44 PM EDT2014-04-24 03:44:36 GMT
    Bird watchers are being reminded to give nesting bald eagles plenty of space. The Vermont Fish Wildlife Department is urging anyone who sees a nesting eagle not to get closer than 300 feet. Activity too close to their nest can result in them abandoning their young. Harassing a bald eagle is illegal and a violation of the state endangered species statute.More >>
    Bird watchers are being reminded to give nesting bald eagles plenty of space. The Vermont Fish Wildlife Department is urging anyone who sees a nesting eagle not to get closer than 300 feet. Activity too close to their nest can result in them abandoning their young. Harassing a bald eagle is illegal and a violation of the state endangered species statute.More >>
  • Gun fired into New Haven home

    Gun fired into New Haven home

    Wednesday, April 23 2014 11:44 PM EDT2014-04-24 03:44:48 GMT
    Police are searching for who fired a gun into a home in New Haven. It happened late Tuesday night at 2420 Munger Street. Police say a bullet passed through a window of the home. Luckily no one was hurt. Investigators say a stop sign at the intersection of Munger Street and Cobble Road had also been shot. Anyone with information should call state police.More >>
    Police are searching for who fired a gun into a home in New Haven. It happened late Tuesday night at 2420 Munger Street. Police say a bullet passed through a window of the home. Luckily no one was hurt. Investigators say a stop sign at the intersection of Munger Street and Cobble Road had also been shot. Anyone with information should call state police.More >>
  • What triggered a shooting inside the Bennington police station?

    What triggered a shooting inside the Bennington police station?

    Wednesday, April 23 2014 6:57 PM EDT2014-04-23 22:57:35 GMT
    A Bennington man is in stable condition after being shot by an officer inside the Bennington Police Department. Investigators say Gregory Filo had a knife and was behaving erratically.More >>
    A Bennington man is in stable condition after being shot by an officer inside the Bennington Police Department. Investigators say Gregory Filo had a knife and was behaving erratically.More >>
  • Former Fortune 500 exec indicted in fatal NH crash

    Former Fortune 500 exec indicted in fatal NH crash

    A New Hampshire grand jury has indicted a former Fortune 500 executive on second-degree murder charges in connection with a crash that killed a Vermont couple in December.More >>
    A New Hampshire grand jury has indicted a former Fortune 500 executive on second-degree murder charges in a crash that killed a Vermont couple in December.More >>
  • Convicted Vt. embezzler charged with stealing from employer

    Convicted Vt. embezzler charged with stealing from employer

    Wednesday, April 23 2014 7:24 PM EDT2014-04-23 23:24:36 GMT
    Nearly two decades after her first conviction, a white-collar criminal returns to court once again charged with stealing from her employer. More >>
    Nearly two decades after her first conviction, a white-collar criminal returns to court once again charged with stealing from her employer.
    More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WCAX. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.