The Congressional Budget Office (CBO) says we should count on the unemployment rate to average a little over 10% for the first six months of 2010, and that it probably won't fall below 9% until 2012. The CBO doesn't anticipate a "natural" rate of unemployment, about 5.3%, until 2014.
Economic growth, the CBO said, "is expected to be slightly faster during the first half of 2010 but slightly slower during the rest of 2010 and in 2011."
The CBO acknowledged the difficulty of predicting the future course of inflation as well as how successful various economic policy changes made by Congress, the Federal Reserve and the Treasury will be as they gradually phase out in the next few years.
You may find me flipping burgers at McDonald's.
High unemployment to persist for 5 more years, CBO says
January 29th, 2010 at 03:22 pm