Economic Prospects for the U.S. and Regional Economy
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PNC Financial Services Group Senior Vice President & Chief Economist Stuart Hoffman addressed the Detroit Economic Club yesterday on the employment and economic prospects of the U.S.
Hoffman said, “If two years ago we could get 2 percent growth, and last year we could get 2.5 percent growth, this year we think we’ll top 3 percent. Better than trend, and again best in the recovery, and frankly the best to 2004. And if I’m right, that should generate about another 3 million jobs, which means the unemployment rate, which in February was 5.5 percent, hopefully by the end of the year will be down to 5 percent.”
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Executive Vice President and Regional President, Detroit and Southeast Michigan