Drexel Economist: Hudson Valley matches National Econoimic Trends
National labor expert Dr. Paul Harrington of Drexel University categorized the regional economy as being consistent with reports of national economic trends, as long-term growth has slowed and likely entered a new paradigm. Harrington, the director of Drexel University’s Center of Labor Market and Policy, provided his thoughts on local economic trends and insight into the labor market from national, statewide and regional levels in his remarks yesterday to more than 175 business and government leaders at Hudson Valley Economic Development Corp.’s State of Entrepreneurism event at the State University of New York (SUNY) at New Paltz. In his keynote presentation, Harrington said the slower pace of economic growth is likely a permanent change. “Economic growth has been generally accepted as 3 percent, maybe 4 percent, annually. But, 1.5 percent is the new standard and it likely won’t change.” Read the full report.
