Experts predict NC economic recovery in 4 years

Updated:

CHARLOTTE, N.C. - In North Carolina experts think it could be four years before the economy fully recovers.

In his quarterly forecast, UNC Charlotte professor John Connaughton said unemployment may go up by the end of the year.

Earlier, he predicted the state would add 63,000 jobs, but Tuesday he lowered that expectation to 50,000.

“We’re on the edge.  I mean seriously.  We’ve got all we can handle and keep the economy in a positive territory,” Connaughton said.

He said shaky consumer confidence, high gas prices and the European financial crisis are all contributing to the slow growth.

He also said if Congress does not extend the Bush-era tax cuts, the economy could slide into another recession.