White House: Unemployment to Peak at 8.1% This Year
The White House expects U.S. unemployment to peak at 8.1 percent this year (it stands now at 7.6 percent) and drop to 7.9 percent in 2010, according to budget bits coming out now.
The administration sees gross domestic product returning to long-term trends in the next fiscal year, rising to 3.2 percent.
GDP shrank 3.8 percent in the last quarter of 2008.
-- Frank Ahrens
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By
Frank Ahrens
|
February 26, 2009; 10:50 AM ET
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The Ticker
| Tags: Obama, budget, budget deficit
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