The Oregon Biz Report - Business News from Oregon

Read about accutane journal moderate acne here

Obama forecast fails. Huge job lossess ahead.

August 26, 2009

White House economists see increasing unemployment for the next 12 months
By Dr. Eric Fruits,
Oregon Economist
EconInternational,

The White House budget office has released its latest economic and fiscal projections. It predicts the largest deficits since World War II and increasing unemployment. The White House unemployment prediction highlights the impotence of the stimulus package passed earlier this year. As the figure above shows, at the time, the administration predicted that the stimulus would have halted job losses by the middle of this summer.

Instead, the latest White House projections predict increasing unemployment until the middle of next year, where it will peak at 10%. This means that another 988,000 workers will lose their jobs over the upcoming year.

Read more:

  
Print This Post Print This Post    Email This Post Email This Post

Discuss this article

no comments yet

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Articles

Press Releases



Top Business News

 

Top Women's News

 

Top Natural Resource News

 

Top Faith News

 

Copyright © 2016, OregonReport. All Rights Reserved. | Terms of Use - Copyright - Legal Policy | Contact Oregon Report

Stay Tuned...

Stay up to date with the latest political news and commentary from Oregon Business Report through daily email updates:

Delivered by FeedBurner

Prefer another subscription option? Subscribe to our RSS Feed, become a fan on Facebook, or follow us on Twitter.

RSS Twitter Facebook

No Thanks (close this box)