Wednesday, January 25, 2012

The economy in 2012

As you may have read, the Chamber held its annual Economic Outlook event yesterday.  In front of 550 people, local and national experts discussed the likely state of the economy in 2012.  In case you missed it, here's a recap of the event in the media:
Yes, the headlines tell it all: the economy is actually slowly recovering.  Hiring has averaged 150,000 for the past three months and GDP continues to slowly grow.  Corporations are sitting on more cash than they have in years and the business-to-business sector continues to grow phenomenally.  When it comes to hiring, however, the local picture remains cloudy - the Allentown-Bethlehem-Easton area has the 2nd highest rate of unemployment of any area in Pennsylvania, and the real unemployment level is closer to 16% when you factor in those who have stopped looking for work (that number is NOT factored into the unemployment numbers that you hear about regularly).

For a look at the live tweets of the event, check out the hashtag #ChamberEO.

And, of course, let us know what you think about the state of the economy in 2012!

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