In an interview on CNBC April 5, 2010 Paul Kanjorski makes the claim that he agrees with President Barack Obama "that we probably turned the corner, it hasn't been spectacular but we are on our way to growth". In the chart above from the Times-Tribune the first three counties listed are in Kanjorski's district but by his comments one wouldn't know it.
Mr. Kanjorski should get out of Washington literally and read what the newspapers in his district are saying about economic recovery. In today's Times Tribune James Haggerty writes a column about the increasing bankruptcies in Northeastern Pennsylvania among contractors.
Rising bankruptcy filings among contractors reflect the continuing slump in the area construction industry.
Three construction companies have filed for protection since February in U.S. Bankruptcy Court for the Middle District of Pennsylvania.
"The volume of business dropped very sharply through 2009," said Kenneth Simonson, chief economist for the Associated General Contractors of America, a trade group based in Arlington, Va. "I don't expect an upturn in private residential construction until 2011. I would not be surprised if you hear about a lot more bankruptcies."
Contractors' difficulties surfaced among the 2,789 first-quarter bankruptcy filings in the 33-county court district. The total represents a 10.7 percent increase in cases over the January-to-March period of 2009.
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