NC State Economist Mike Walden – “Mid-Year Economic Forecast”



Mary:    I’m Mary Walden with economist MW welcoming you to the economic perspective.  Today’s program looks at the mid-year economic forecast.  Mike, we’re now in the second half of 2014, and it’s time for economists like you to update their forecasts.   I know you recently did this in your biannual North Carolina Economic Outlook.   What does your crystal ball show for the economy over the next six months?


Mike:  Summary Answer

  1. Always a mix of pluses and minuses
  2. On plus side – see continued growth with jobs being added
  3. Note: headline unemployment rate may not fall as discouraged workers come back into the labor market
  4. On negative side – hourly pay not rising
  5. Many households still have not recovered and aren’t confident
  6. Housing market still hasn’t “taken off” – keeping a lid on construction jobs
  7. Inflation may be a tab higher
  8. I’m MW


Mary:  And I’m Mary Walden for the North Carolina Cooperative Extension Service'

A native of the Texas Panhandle, Rhonda was born and raised on a cotton farm where she saw cotton farming evolve from ditch irrigation to center pivot irrigation and harvest trailers to modules. After graduating from Texas Tech University, she got her start in radio with KGNC News Talk 710 in Amarillo, Texas.