Economist: Outlook for future economy mixed despite gains
PROVIDENCE, R.I. (AP) — A Rhode Island economist says the outlook for the state’s economy is mixed despite a “relatively solid” job market.
Michael Lynch says there are a number of reasons for concerns about the future of the state’s economy, due to job losses in key sectors like health and finance. WPRI-TV reports that Lynch’s firm, IHS Markit, prepares a state economy report twice a year to help government leaders estimate future tax receipts.
Lynch says there is little cause for immediate concern about the job market, but he predicts the jobless rate will rise slightly over the next year as payroll growth slows.
Lynch says the economy will be healthier if Rhode Island sees future growth in the number of younger residents.
Information from: WPRI-TV, http://www.wpri.com