A new Department of Revenue economic outlook estimates that the state will return to pre-recession employment peaks by early 2015.
The report, released Wednesday, projects 1 percent job growth in 2012 and 1.7 percent job growth in 2013. That projection is slightly better than DOR’s winter employment projections, which had employment growing by 1 percent in 2012, but only improving to 1.1 percent in 2013 and 1.6 percent in 2014.
The report also says that while the economy continues to improve, employment gains, personal income growth and national consumption growth slowed in the last few months. In addition, it shows income tax collections are 5.7 percent higher than the same time last year.
