PA not expected to return to prior peak employment for three years
Jim Diffley of Global Insight, the state’s economic forecaster, told the Pennsylvania House Appropriations Committee that it will take three years for non-farm job payrolls to exceed the early 2008 high. It is expected this will take place early in 2013.
The Harrisburg region is expected to reach that level a half year earlier.
Members of the committee expressed concern that by the time jobs had recovered there would be a short fall of $5 billion in the state’s pension system.
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