Ohio Governor's Advisers Say Economy Stabilizing

By: Associated Press
By: Associated Press

Columbus, Ohio (AP) -- The group of economists that provides forecasts to Ohio Gov. Ted Strickland says the economy is stabilizing but that unemployment will remain high.

The informal council of economic advisers met with Strickland and his staff Wednesday to share forecasting information from some of Ohio's largest companies.

The forecast predicts Ohio's unemployment rate to be 11.5 percent in the fiscal year that began in July and 11.9 percent in the next fiscal year.

The group predicts the U.S. unemployment rate to be 9.6 percent in the next fiscal year.

The personal income of Ohioans is expected to decrease half a percent in the current fiscal year and then increase by 1.1 percent the following year.

(Copyright 2009 by the Associated Press. All rights reserved.)

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