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Economists: State To Get Back Jobs Lost To Recession By 2015

Economic advisors tell the State Budget Committee both the Indiana and U.S. economies will grow over the next couple of years, but that growth will be slow.

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Economic insiders have pushed back the date at which they believe the state will have gained back all the jobs it lost in the recession.

The national and state economic forecasts are done for Indiana by the firm Global Insight.  Managing Director James Diffley says a freeze in growth in the middle of 2011 has pushed back the outlook for recovery.

“Last time I was year I reported that by mid-2014, mid- to late-2014, Indiana would have gained back all the jobs lost in the recession,” Diffley says.  “We’ve now pushed that back into 2015.”

House Republican Fiscal Analyst David Dukes says state revenues should grow over the next two years, but not very strong.

“I would characterize it as a growing forecast, but slow growing and minimal growth in maybe the 2-3 percent range,” Dukes says.

But with recently discovered tax revenue that had been misplaced, the state budget surplus is expected to reach about one-point-seven six billion dollars in the next year.  If left untouched, that would trigger a tax refund of roughly $50 for the average taxpayer.

Brandon Smith

Brandon Smith has previously worked as a reporter and anchor for KBIA Radio in Columbia, MO, and at WSPY Radio in Plano, IL as a show host, reporter, producer and anchor. Brandon graduated from the University of Missouri-Columbia with a Bachelor of Journalism in 2010, with minors in political science and history. He was born and raised in Chicago.

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