Forecast: Unemployment Could Hit 9% This Year
U.S. unemployment, now at 7.6 percent, could climb to 9 percent this year, according to 47 forecasters surveyed by the National Association for Business Economics and released today.
The Ticker thought something seemed familiar about this headline -- we checked our archives and found this prediction from the same group in November, that said unemployment would top out at 7.5 percent.
So that's a miss.
The panel further forecasts that the recession will last through the middle part of this year, with a staggering contraction in gross domestic product by 5 percent in the first quarter.
February 23, 2009; 11:44 AM ET
Categories: The Ticker | Tags: NABE, unemployment
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Posted by: MikeJ9116 | February 23, 2009 12:21 PM | Report abuse
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