Shore Builders Association Bulletin Board Magazine 2017 Volume 1

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Article
by XXXX
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
Q2: How much will jobs grow
in 2017?
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!
A Look
AHEAD 2017
by Dr. Kevin Gillen, Senior Research Fellow,
Lindy Institute for Urban Innovation at Drexel University
Dr. Kevin Gillen
Economic Forecast
Q
& Q1: How much will the
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.