PEARL RIVER – Is the Hudson Valley economy better now than it was during the Great Recession? Yes, said Hudson Valley Pattern for Progress President Jonathan Drapkin. But, he told the Rockland Business Association meeting in Pearl River on Thursday that he is not convinced there has been a complete turnaround.
Drapkin noted the unemployment rate has almost returned to pre-recession numbers and the stock market has almost tripled.
“There are many things that I think are encouraging, but we prefer to say that people should have a cautious optimism about it,” he said.
That is because the job statistics do not always tell the whole story.
Banks are offering low interest rates and the housing market has not rebounded
at high levels, Ddrapkin said.
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