Economists see slow growth but continued high unemployment
Thursday, August 27th, 2009Author : Biz2Credit Advisor
Top economists see the beginning of an economic recovery but say high unemployment will continue through 2010, according to a July survey of 49 economists by USAToday.
The majority of the economists surveyed predicted the jobless rate will top 10 percent later this year. Unemployment figures released on Aug. 7 showed a slight decrease of 9.4 percent in July from 9.5 percent in June – the first time unemployment dipped in 15 months.
Economists told USAToday recovery will be “anemic” due in large part to massive consumer debt and a tight credit market. They did cite a few bright spots, though, with the majority saying existing home sales have bottomed out, consumer spending stabilized and CEO confidence growing.



