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What Kind of Recovery? Vermont’s Economy in 2010

What Kind of Recovery? Vermont’s Economy in 2010. By Richard Heaps. The Vermont Economy Today. The economy hit bottom in late 2009 The recession has ended and the recovery is starting to take hold What is a recovery Labor markets are near bottom. Spending on Taxable Retail Goods.

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What Kind of Recovery? Vermont’s Economy in 2010

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  1. What Kind of Recovery? Vermont’s Economy in 2010 By Richard Heaps The Vermont Economy Newsletter - January 8, 2010

  2. The Vermont Economy Today • The economy hit bottom in late 2009 • The recession has ended and the recovery is starting to take hold • What is a recovery • Labor markets are near bottom The Vermont Economy Newsletter - January 8, 2010

  3. Spending on Taxable Retail Goods The Vermont Economy Newsletter - January 8, 2010

  4. Spending on Meals & Rooms The Vermont Economy Newsletter - January 8, 2010

  5. Sales of Vermont Homes The Vermont Economy Newsletter - January 8, 2010

  6. Prices of Vermont Homes The Vermont Economy Newsletter - January 8, 2010

  7. Incomes of Vermonters The Vermont Economy Newsletter - January 8, 2010

  8. Vermont Job Growth: 2005-09 The Vermont Economy Newsletter - January 8, 2010

  9. Job Changes: Jan 08 to Nov 09 The Vermont Economy Newsletter - January 8, 2010

  10. Job Changes: Jan 08 to Nov 09 The Vermont Economy Newsletter - January 8, 2010

  11. Unemployment Up in 2009 The Vermont Economy Newsletter - January 8, 2010

  12. Job Losses Across Vermont(Q2 08 to Q2 09) The Vermont Economy Newsletter - January 8, 2010

  13. How Bad is this Recession? The Vermont Economy Newsletter - January 8, 2010

  14. 2010: The Start of theEconomic Recovery • How a recovery develops • When will it start? • Why measure by job growth? The Vermont Economy Newsletter - January 8, 2010

  15. Path of this Recovery The Vermont Economy Newsletter - January 8, 2010

  16. Where Will the New Jobs Be? • From 2010 to 2012, about a 3% gain or 8,000 jobs • Nearly all in the private sector • All sectors participate in the recovery • Health care leads – one-third of all new jobs The Vermont Economy Newsletter - January 8, 2010

  17. VT Unemployment Rate • Vermont’s economy will look better measured by the unemployment rate • It is 6.4% now? • Rises to 7.0% for 2010 • Falls to 6.2% in 2011 and 5.3% in 2012 The Vermont Economy Newsletter - January 8, 2010

  18. Vermont Real Family Incomes • 2008 and 2009 were -2.7% & -2.5% • 2010 – just a 0.5% gain • 2011 – back to normal +2% to +3% The Vermont Economy Newsletter - January 8, 2010

  19. Housing Recovers • What is recovery? • Existing home sales up 30% in 2010 to 11,000 units --- then flat • Prices fall another 5% in 2010 --- then flat • New permits modestly grow in 2010, then up 20% in 2011 and 30% in 2012 The Vermont Economy Newsletter - January 8, 2010

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