Economic Outlook 2008

As 2007 winds to a close, the talk is about the ‘r-word’ — recession. Some economists say the country will likely be in one by mid-year, but others say the nation and region are due merely for a sluggish year with fairly modest growth. Locally, economic-development leaders are buoyed by a more fiscally stable Springfield and the beginnings of a ‘green’ cluster. But there are concerns, especially about the need to close an alarming skills gap that is preventing many employers from filling job vacancies.