ECU Economist: Recession Over, Concerns Over State Budget

One local economist thinks the recession is over.

Dr. Rick Niswander, the Dean of the East Carolina College of Business, spoke to local business owners and leaders in Greenville to give his economic forecast.

Dr. Niswander says the country is rebounding from the recession and there are signs of stabilization. The only two areas of minimum growth are in housing and unemployment.

Dr. Niswander says Eastern Carolina is better positioned to see unemployment numbers decrease due to manufacturing, education and health care professions. Although there is the bad news. "The potential negative moving forward is what's going to happen to the state budget and what's that's going to mean for ECU and PCC and then what that's going to mean for Pitt County."

Hoping for the best and bracing for the worst is Dr. Niswander's advice when it comes to the state budget, with a close to 4 billion dollar budget shortfall.

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  • by Both Partys fault on Jan 7, 2011 at 04:49 PM
    Folks still blame a particular party, when it's obvious to anyone that's willing to look for the truth, that BOTH partys caused our delima! Cntinue to point fingers, but until we take power away from special interests, we will NEVER be the country we're capable of being. Greenspan cut rates and kept them low. Bernanke keepsthem low. Why don't y'all ever mention the Federal Reserve? Doesn't bother you that he's already playing around with Trillions of our money? Lobbyists/PACs control this country!! Our country is run by them! Folks reading this blog don't have the money to be represented in DC. Our country was supposed to give a voice to avg person, but we've allowed to be for sale. Obama Snake oil, Barlow, Lavon, etc. act like it's a particular party. How foolish! If you live in a Gerrymandered district, your vote doesn't count! The partys will want you to believe their propoganda! Public Funded elections NOW!Give the power back to the people!! i.e. DEMOCRACY!
  • by Rusty Shackelford Location: Pitt County on Jan 7, 2011 at 12:11 PM
    I heard Niswander on the radio this morning, he was very quick to correct them when he was called an Economist. So at least as far as that is concerned I do not believe he was trying to pose as something he is not, however I do not agree with him that the recession is over. Gas and everything else is going up, unemployment is still hanging near 10% and in North Carolina at least there is talk of laying off up too 21,000 state employees or an 18% pay cut...that doesn't sound like a recovery to me.
  • by Obama Snake Oil Co Location: Washington on Jan 7, 2011 at 11:35 AM
    lookingforcommonsense on Jan 7, 2011 at 01:31 PM good luck with all that hooey you just posted. Right now it is republicans there sparky and if they don't get it right, we will picking more conservative republicans and taking out the rinos. And, yes, I did have it better under Bush until the democrats took over the house from his control. Just so Barney Franks and Christopher Dodd, both democrats, could destroy the real estate market...
  • by ??? on Jan 7, 2011 at 10:53 AM
    I don't know who the recession is over for, but it is not the poverty to middle class who have lost jobs and have yet to recover that income. People are still not hiring and not paying these people what they were making, hardly anything to make ends meet. They come out with something about the lowest unemployment rates and yet just last month everyone was going to lose their checks rite before christmas because the extensions were expiring!!! How coincidental... Recession is still looming and growing under the table bigger and bigger! When will people wake up and realize that?
  • by lookingforcommonsense on Jan 7, 2011 at 10:31 AM
    Listen to yourselves you still don't get it! The republicans and or the democrats are not going to be your saviours! We need good common sense decisions not liberal ideals or conservatives crying and whining in congress with unrealistic and antiquated ideas. For all you who are berating Obama , tell me was W any better? now be honest when you ask yourself about it. For all of you who still think "WE CAN" who voted for Obama to bring troops home, at this point hasn't he sent more troops than W and how much has that costed in money not to mention lives and for what? To protect us from sheepherders in Afghanistan who have no idea where the U.S. is even at ! Remember 9/11 19 of 21 hijackers where Saudis who traveled over here first class/business class! When the 2012 election comes around lets hope their are some common sense candidates from some party to vote for! I doubt it, but either way each individual person needs to rely on themselves and the good Lord to get through the tough times
  • by Joe Location: G-ville on Jan 7, 2011 at 09:54 AM
    Lavon, you do know that the reason our state is in it's current budget crisis is because of your free spending liberal dems that have ran this state into the ground in order to support their own interest, fund welfare, fund medicare/medicade, and take kickbacks from their crony supporters in response to funding worthless programs in this state, right? Recession over? Not by a long shot, recovery will be for many years to come! At least he didn't say $4 a gallon for gas is showing that the economy is improving like an ecommunist (yes, I intended for the word to be spelled that way) did previously this week. Who knows what will happen now that your beloved Oblahblah hired a Wall Street crony as his Chief of Staff. Sounds like a lovely corrupt marriage of government and wheeling/dealing spenders waiting to happen.
  • by Anonymous on Jan 7, 2011 at 06:12 AM
    Lavon, it's only because the Republicans have regained control that things are starting looking up now. And don't try to give your daddy any credit for this either.
  • by Anonymous on Jan 7, 2011 at 05:21 AM
    Nobody, but nobody in the state will talk about the elephant in the room. Wasteful spending by the state. Too many cronies would be affected.
  • by Lavon Location: Goldsboro on Jan 7, 2011 at 05:17 AM
    Thank you President Obama. These Republicans can't stand this kind of news.
  • by MSA on Jan 7, 2011 at 04:50 AM
    Corey: Im pretty sure someone who has a Phd is a related field with 30 years of experience is no match for you partly finished undergrad degree. If you look at Niswander's publications his is a well respected expert in small business, which is the group he was speaking too.
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