Skip to comments.Unemployment may be high until 2016
Posted on 07/05/2012 4:19:49 AM PDT by John W
WASHINGTON A majority of economists in the latest Associated Press Economy Survey expect the national unemployment rate to stay above 6 percent the upper bounds of what's considered healthy for at least four more years.
If the economists are correct, the job market will still be unhealthy seven years after the Great Recession officially ended in June 2009. That would be the longest stretch of high unemployment since the end of World War II.
And it means the job market and the economy President Barack Obama's main political threats would remain big challenges in either a second Obama term or President Mitt Romney's first term.
"The election isn't going to be a miracle cure for the unemployment rate that's for sure," says Sean Snaith, an economics professor at the University of Central Florida.
(Excerpt) Read more at deseretnews.com ...
In other words, the media is now portraying chronic high unemployment is now the new normal and voters should just get used to it no matter who is president.
We’ll see how many of these stories are published once Obama is gone.
So in 2009 the mild depression started ?
If 0bama is reelected it will it get worse before it gets before it gets better.
I found Rugaber on Twitter and sent him a comment on one of his recent pro-Obama stories simply asking when the mainstream media was going to be at all critical of Obama as they would any other president of either party with his economic record. Might it be his plans and polices I asked specifically. Today I go to find him on Twitter and he doesn’t exist. Which, I’m sure, means he blocked me.
Pretty much my take as well. They could have used more guile and picked 2015 or 2017 so it wouldn't be so obvious.
It will remain high until 2016 if enough brain-dead liberals help re-elct obamma.
A majority of economists in the latest Associated Press Economy Survey expect the national unemployment rate to stay above 6 percent -- the upper bounds of what's considered healthy -- for at least four more years....depending on what happens in November, of course.
The economists are assuming (they always assume ) status quo.
They don’t assume a major change in the legislative branch that will shake things up. A shakeup in the health care debacle, union strangulation, tax decrease, trade regulation...... could increase the slope of the economic change curve. The curve is essentially flat and change in any of the above will increase the slope. The changes are additive and the change in all will produce a zoom.
Romney will not buck the will of a determined House
Interesting choice of date. Most times when someone says "highest since x" he uses a date with a higher unemployment rate, but during WW2 we had a very low unemployment rate. I guess the MSM will do anything to avoid comparing Obama's economy to the Great Depression.
That's what the media says now. But if Republicans gain lots of political power in November, start making big changes in 2013, and get unemployment down below 6%, the media will rush to the ramparts to say that it's not a real recovery, these are Mcjobs, and men earn more than women, so the economy is a disaster.
The article fails to describe what magic thing they think will happen in 2016.
Translation: The bad economy is not Obama’s fault. So we might as well go with the guy that’s in there.
AP did a similar story last week about how no one believes either candidate can change the economy.
This is the new meme now that they know Obama has no chance to turn around the economy in time for the election.
High unemployment would be acceptable if it is the result of defunding and abolishing the Departments of Energy, Education, Commerce, HHS, along with EPA, OSHA, IRS, DeathCare and a few others that Freepers can suggest.
And, prithee, what magic happens in 2016 that causes unicorns to fly and rainbows to spew from their butts?
It IS the new normal...until we wring government’s neck. It won’t change in 2016 either.
Did Congress cut spending recently? Did they defund ANYTHING recently? Have ANY government employees been laid off recently? Then screw the entire lot...we need ANOTHER derecho in Washington.
—...high unemployment is now the new normal...—
It’s the natural response. Back in 2007 I told the guys on Seattlbubble.com that real estate could drop 20% (which “sounded” like crazy talk, even to me). They called me a whack job and a doom and gloomer.
Well, it dropped over 30% and nobody said, “gosh, you were right”. Rather, it has just become the new normal and people perceive the past viewpoints from their current perspective. That is, since it is clearly “normal” now, they think that back theyn they knew it was probable. But it was LITERALLY unthinkable.
Yet, here we are.
And a lot of stuff that today is unthinkable will be the new normal very soon.
If we get rid of the kenyan, marxist usurper in the white hut, we won't have to wait quite as long.
Cue the “smart strategy to let Obama win a second term and take the fall for this” blather from the Wizards of Smart...