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Economists: Unemployment will be 7.5% by the end of 2013
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So much for all the talk of global economic collapse and another great depression....
[link to www.latimes.com]
By the end of next year, the unemployment rate will be at 7.5%. Consumer spending will be up, as will housing starts. But first, the economic recovery needs to slog its way through the remainder of 2012, economists said.
Monthly non-farm job growth will grow to 188,000 a month by the end of this year, up from 115,000 in April. That will cause the jobless rate to slide minimally to 8% by the fourth quarter from 8.1% now, according to a survey of 54 economists by the National Assn. for Business Economics.
If the forecasts are accurate, the job market could be headed for an upswing after slowing growth in March and April reversed a winter trend of gains averaging 252,000 added jobs a month....
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