Report: full N.H. employment recovery 3 years away

Employment in southern New Hampshire won’t return to its pre-recession peak until the latter part of 2014, according to a recently released report.The report, prepared by IHS Global Insight for the U.S. Conference of Mayors, examined the economies of more than 350 metropolitan areas and concluded that the Manchester-Nashua region would not recoup its recession job losses until the fourth quarter of 2014.As grim as that sounds, the area is among the upper half of the metro regions that are expected to bounce back a little quicker.According to the report, of the 363 metropolitan areas studied, 75 are expected to have double-digit unemployment rates through December 2011, and 48 are not expected to return to peak employment until after 2020.While the researchers concluded that it would be more than three years before the Manchester-Nashua region would return to peak employment, they did forecast steadily falling unemployment rates.From a rate of 5.8 percent in 2010 for the Manchester-Nashua area, the report estimated 2011 would end with an unemployment rate of 5.2 percent, 4.9 percent in 2012 and 4.7 percent by the end of 2013.They do say that, while the country’s economic growth has hit a slow patch, it is not a precursor to a “double-dip” recession.A copy of the report may be downloaded at http://www.usmayors.org/metroeconomies/2011/ — CINDY KIBBE/NEW HAMPSHIRE BUSINESS REVIEW