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Local Economist: 2014 Economy Looks Positive

Univest’s Chief Economist Gary Wolfer sees some god news for 2014. Wolfer says natural gas reserves put the country in the best position for energy that it’s been in for generations. But employment numbers seem to be lagging and might remain higher that we were used to seeing prior to the market crash in 2008.
 
“Unemployment remains very problematic. We saw a nice drop in the unemployment rate in the 3rd quarter, going from 7.3 to 7 percent. Some analysis indicates that there is a structural issue with unemployment, specifically, the fact that there’s many workers still unemployed with their skill rapidly eroding.”

Wolfer says there could still be some potholes along the way, but he expects an improving economy next year.

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