Another depressing forecast. The jobs added last year didn't keep up with the growth in population (1.64 million jobs versus about 1.9 million new working age people). From Bloomberg:
Federal Reserve Bank of Chicago President Charles Evans said the drop in the unemployment rate to 8.5 percent may be partially reversed in coming months.
“I’m a little concerned that the most recent improvement is going to be transitory and it might move up above 8.5 percent,” Evans said in response to audience questions after a speech today in Carmel, Indiana.
Evans said he forecasts that “at the end of the year, we’re not going to be very different from 8.5 percent unemployment.” . . .
Chicago Fed President thinks Unemployment is likely to temporarily rise, at end of the year about where it is now
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