Hartford Business Journal

50 Hartford Business Journal • December 22, 2014 www.HartfordBusiness.com AdvERTISER Pg. ACT Group 52 Better Business Bureau 16 Borghesi Building & Engineering Co. 38 Co-Communications 38 Comcast Business 15 Constitution Advisory Group 29 Cox Business 19 Executive Talent Services, LLC 9 Federman, Lally & Remis, LLC 37 Frontier Communications 25 The Hartford Club 2 Infinity Music Hall 7 Lots of Smiles Photo Booth Rental, LLC 46 MetroHartford Alliance 23 NBC Connecticut 17 PDS Engineering & Construction, Inc. 47 Riverhouse Hospitality 50 The Walker Group 39 Advertiser index Browse our Venues, meet our Event Staff and visit with Connecticut's finest Wedding Photographers, DJs, Bands and Beyond! January 18, 2015 • 11am–3pm 55 Bridge Road Haddam, CT 06438 860.345.4100 theriverhouse.com Admission $5 February 22, 2015 • 11am–3pm 31 Pratt Street Hartford, CT 06103 860.524.0796 hartfordsocietyroom.com Admission $5 ciety Room of Hartford March 1, 2015 • 11am–3pm 1 Nod Road Avon, CT 06001 860.404.5051 avonbelleterrace.com Admission $5 Annual Bridal Showcase Events firm. This is a big if. The other developing concern is the U.S. economy's weak potential growth rate. Underlying labor-force and pro- ductivity growth remains disappoint- ing. Their weakness will help return the economy to full employment more quick- ly, but if they do not improve growth will be weaker over the longer term. A per- sistently low rate of new business forma- tion, which is the fodder for innovation and productivity gains, adds to worries. However, it is premature to conclude that the economy's supply side won't come back to life as full employment approach- es. The U.S. has a surfeit of potential workers who stepped out of the job mar- ket during the tough times; some of them will step back in as wage growth and job opportunities return. Business formation and investment should also recover as the psychological shadow of the Great Reces- sion fades and risk-taking revives. The bottom line: Betting against the American economy remains a bad strat- egy. The U.S. has clearly had a difficult run over the past 15 years, and has been scarred by terrorism, wars, technology and housing bubbles. Lower- and mid- dle-income households have seen living standards decline. But the bad times are likely ending. Many of the economic wrongs have been righted. Households have deleveraged, the financial system has recapitalized, and U.S. businesses have reduced their cost structures and are highly competitive. Serious prob- lems remain and politics complicate our ability to address them. But if history is any guide, we will. n from page 9 E c o n o m i c F o r E c a s t

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