Carl H. Lindner College of BusinessCarl H. Lindner College of BusinessUniversity of Cincinnati

Carl H. Lindner College of Business

BUSINESS COURIER: PNC Bank's Hoffman: Slow Recovery for U.S. Economy

Source:
Business Courier
Published:
Monday, December 19, 2016 6:21 PM
PNC Bank's chief economist and UC Carl H. Lindner College of Business alumnus, Stuart Hoffman, discusses Cincinnati's economic status.

PNC Bank chief economist Stuart Hoffman, MA '72, PhD '75, and 2011 recipient of the Carl H. Lindner Award for Outstanding Business Achievement, said it looks like the economy will remain on the slow growth path it's traveled in recent quarters but he doesn't expect the economy to slip into recession.

Hoffman expects national unemployment to finish the year around 9.1 percent, about where it is currently. He also notes that next year doesn't look much better, with the jobless rate improving slightly to 8.7 percent.

"However, nearly twice as many small business owners in Ohio expect to hire more people next year as expect to cut jobs," Hoffman said. It's just 16 percent versus 9 percent, but he still sees it as a positive sign.