Economists: Unemployment to Crest at 7.5 Percent
The National Association of Business Economists' poll of 50 forecasters released today predicted that the U.S. unemployment rate -- now at a 14-year high of 6.5 percent -- will top out at 7.5 percent in the third quarter of 2009.
Nearly all of the economists surveyed believe the United States is already in recession.
The forecasters said that the U.S. economy, as measured in gross domestic product, will shrink 2.6 percent in the fourth quarter of this year and drop another 1.3 percent in the first quarter of 2009.
-- Frank Ahrens
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November 17, 2008; 10:27 AM ET
Categories: The Ticker | Tags: economic forecasts, economic indicators
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