Short-lived Low US Unemployment Rate Likely

https://portside.org/2017-12-18/short-lived-low-us-unemployment-rate-likely
Portside Date:
Author: Economist Dean Baker
Date of source:
The Guardian (UK)

'In short, we have an economy that had been growing at a not-very-healthy pace through the second half of 2012 – and which is virtually certain to be slowed by contractionary fiscal policy through the rest of 2013. Unless there is a rapid reversal of policy, the 7.7% unemployment rate is likely to represent a low we may not see again for some time.

'While the economy is not likely to fall into a recession and send the unemployment rate soaring, the economy is not growing fast enough to meet the need for jobs from a growing labor force. As a result, unemployment will be going in the wrong direction for the rest of the year.'


Source URL: https://portside.org/2017-12-18/short-lived-low-us-unemployment-rate-likely