Shore Builders Association Bulletin Board Magazine 2017 Volume 1

Economic Forecast

A Look AHEAD 2017 by Dr. Kevin Gillen, Senior Research Fellow, Lindy Institute for Urban Innovation at Drexel University

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Dr. Kevin Gillen Q &

Top Questions for the Economy and Housing in 2017. The following questions and answers are excerpts taken from Dr. Gillen’s Powerpoint

presentation from our January 19, 2017 Economic Forecast meeting. To download the complete presentation, please click here.

Q1: How much will the

Q2: How much will jobs grow in 2017?

economy grow in 2017?

Answer: In general, NJ has under performed US. Pre-Recession: 5% and 4% annual growth Post Recession: 4% and 3% annual growth For NJ: is 3% the new 4%? Outlook: tax cuts, tax reform, infrastructure stimulus, energy investment, possible de-regulation are all positive signs.

Answer: Post-recession, NJ job growth has been less steady than US. Recent dip due to contraction in Atlantic City area. Outlook: prime working age population is growing, greater labor force participation by millennials as they mature, rebound in energy sector, but outlook for manufacturing is mixed (negative for autos, plus for others). Wild card: trade policy!

Continued ›

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