Posted on 12/25/2009 9:28:02 AM PST by FromLori
While the economy is likely to grow at a steady but unspectacular 3% pace in 2010, the prospects for significant job growth are dim and the unemployment rate could still be in the 10% neighborhood at this time next year, economists say.
Above-trend growth "never felt so bad," wrote economists at JP Morgan Chase. "Growth will not be boomy. And growth will not go far in returning the economy to healthy levels of activity."
Remember, the adult population grows by about 2 million a year, which means the economy needs to create about 1.3 million jobs every year to satisfy all those who want to work. The economy needs to grow at a pretty fast clip to create those jobs, because productivity improvements mean that we can produce about 2% more each year with the same level of employment.
It could take years to bring the unemployment rate down to 5% or 6%.
(Excerpt) Read more at marketwatch.com ...
I thought the President and the White House said last month was a good month. He has us on the rebound.
If the American people are stupid enough to vote for Democrats with an unemployment rate of 10% (which is too low because it doesn’t count the self-employed who can’t make a living in this economy), then they deserve the economic disaster that awaits us.
For the majority of the Bush years the jobless rate hovered around 5% even considering 9-11 and last years collapse. Since Bam has only applied stimulus gimmicks and no considerable tax relief expect the unemployment rate to not drop very much from current numbers.
Of course.
Unfortunately, we get dragged into the economic environment along with the Democrats who brought it upon us.
The job market will get worse, with the exception of the federal government.
At some point even the most brain-dead Obama voters will figure out Bammy isn’t in it to help them find work. They didn’t get their free gubmint pie. THIS will get “The One” fired quicker than anything else.
We can only hope.
Obama is chewing gum as he makes an omelet out of our (nest eggs) economy.
I've got this feeling that 2010 will be the year we start to take our country back one way or another. Stay tuned.
MERRY CHRISTMAS!
I hope your feeling is right. This coming year should be an interesting year, "one way or another"...
And a Merry Christmas to you too!
Nothing will improve until the crooks are out.
Yet, at least 45% will still be blaming Bush for the country's economic woes.
Exactly. Liberals are stupid people, and one of the traits of liberal retards is to blame Republicans, even though they voted for anti-business Dems like Obeyme who’s life evolves around destroying capitalism. They’ll still vote Dem like a bunch of circus seals.
>It could take years to bring the unemployment rate down to 5% or 6%.
No it wont. A little propaganda piece from AP or reuters that “the recession is over, unemployment now at ZERO% under Obama” is enough to appease the gullible...
I expect it to increase ... as employers feel the weight of new mandates.
Of course, but it is more likely to happen unless we counter the 'Rat propaganda (witness the Great Depression where Roosevelt and the Democrats increased their Congressional majorities all the way until 1938.)
Put another way, we now have an administration and a society by, for, and about the looters and pillagers and plunderers among us.
It is only going to get worse.
"Hope" everybody likes that "change" they voted in to office, because they are about to get it...
"Good and Hard..."
Remember that we import 125,000 legal foreign workers a month, counting non-immigrant work visas and immigrants.
We are bringing in 1.2 million legal immigrants a year, most of whom are poor and uneducated. They represent a net drain on our social welfare systems. We are importing poverty.
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