Economists see slow growth but continued high unemployment

Thursday, August 27th, 2009
Author : 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.


Biz2Credit Logo This article was submitted by Katie Kapler, Director of Online Strategy for Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to katie.kapler@biz2credit.com.

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