State Governments Facing “Staggered” Recovery over Next Four years

Bloomberg:

U.S. states face a “staggered” recovery even as the national economy shows signs of stabilizing, Susan Urahn, a managing director at the Pew Center on the States, told investors on a conference call.

They may also have to contend with three to four more years of budget woes, said Laura LaRosa, director of fixed income at Glenmede Investment & Wealth Management in Philadelphia, on the call today.

“When the recovery comes, it’s going to be staggered and slow,” Urahn said. “The lag happens because it takes time for the states’ unemployment rates to come down to pre-recession levels.”