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Posts tagged: economic recovery

Full economic recovery still years off

The economic recovery is on the horizon, but it will take four years or longer to erase the stain of the recession, an economist and a marketing professional told business and community leaders in Spokane this morning.

“I’m reasonably, vaguely optimistic” the Inland Northwest is headed into a recovery, said Grant Forsyth, professor of economics at Eastern Washington University.

This will be a modest year of employment growth, Forsyth predicted. The unemployment rate in the Spokane area will remain around 9 percent through 2010, he said.

The region also can expect little wage growth this year, he told a gathering hosted by Greater Spokane Incorporated at The Davenport Hotel.

Forsyth said the economy here is turning around, but he estimated it will take until summer 2013 to reach the employment peak seen in March 2008.

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The Spokesman-Review business team follows economic development in Spokane and the Inland Northwest.

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