WASHINGTON — The US unemployment rate is likely to remain "severely elevated" for some time even as the economy recovers from recession, a top White House economic aide said Thursday.
Christina Romer, chair of President Barack Obama's Council of Economic Advisers, said that even though the economy is likely to expand in the third quarter, the impact on the labor market will be limited.
"Consistent with the recent cyclical pattern, the unemployment rate is predicted to continue rising for two quarters following the resumption of GDP (gross domestic product) growth," she told a hearing of the Joint Economic Committee of Congress.
She said that the key to reducing joblessness is growth of at least 2.5 percent, and that most projections call for an expansion close to that level.
Does anyone still think the 787 BILLION Stimulus was/is effective use of Tax Payer Money to STIMULATE THE ECONOMY?
Answer by grlygrlz2 at 10:46 PM on Oct. 22, 2009
Answer by Anonymous at 11:10 PM on Oct. 22, 2009
Answer by georgia362 at 11:11 PM on Oct. 22, 2009
Answer by lovinangels at 12:17 AM on Oct. 23, 2009
Answer by LoriKeet at 7:37 AM on Oct. 23, 2009
Answer by jewjewbee at 10:24 AM on Oct. 23, 2009
Answer by itsmesteph11 at 5:15 PM on Oct. 23, 2009
In many liberals 'simple minds" they can dish out all the negativity they want about conservatives/ GOP Presidents, but they cannot take criticism. Liberal Cry Babies.
Answer by grlygrlz2 at 11:45 PM on Oct. 23, 2009