Despite grim unemployment statistics for the state, one University expert predicts the economy will pick up toward the end of 1992.
The state's seasonally adjusted unemployment rate reached 7.6 percent in February -- its highest reading in about six years, according to a University news release citing the U.S. Department of Labor's Bureau of Labor Statistics.
"Despite lingering economic weakness, I still contend that the fundamentals are in place for a very modest national economic recovery later this year," said William D. Anderson, assistant director of the Center for Regional Business Analysis.
"When this occurs, the result will be some stability, or perhaps even some slight improvement in the Pennsylvania labor market," he said.
The latest unemployment rates for Centre County are 6.8 percent, said Glenn Lynn, a labor market analyst for state Labor Market Information Office.
Anderson added that when he makes these predictions, he looks at the overall state of the economy. Some areas of the economy considered indicators of growth or decline are housing starts, retail sales and manufacturers' production levels.
Taking these trends as a whole, a recovery for the year is evident, Anderson said.



