State predicts small drop in employment for ’08

The state Department of Revenue predicts a slowing economy and “a small decrease” in state jobs this year, with steady employment in 2009.

The state Economic Outlook predicts real Gross Domestic Product growth of 1.4 percent this year, 0.9 percent in 2009, and then 3-percent annual growth in 2010 and 2011.

Employment is expected to drop 0.3 percent in 2008, with zero job growth in 2009. Personal income is expected to grow 3.6 percent in 2008 and 3.3 percent in 2009.

Nationally, according to Global Insight, which created the report, real GDP is expected to grow 1.2 percent in 2008 and 1.4 percent in 2009. Employment is expected to grow 0.1 percent in 2008 and 0.2 percent in 2009.