Unemployment Rate Predicted To Rise In Months Ahead

The Bureau Of Labor Statistics has came out with Employment Situation News Release (Friday, September 4, 2009). Nonfarm payroll employment fell by 216,000 in August, and the unemployment rate rose to 9.7 percent.

The Employment Factors — August 2009
August data (employment) showed construction down 65,000. Manufacturing down 63,000. Financial activities down 28,000. Wholesale trade down 17,000. No growth here.

Transportation, warehousing, and retail trade had remained about the same. Health care gained 28,000 jobs in August.

WSJ Survey
A recent WSJ survey said the economists were forecasting that the recession is over. They thought that Ben Bernanke should be reappointed to another term as Federal Reserve Chairman.

Financial Forecast Center Predictions:

U.S. Unemployment Rate Forecast
1.  Sep 2009 / 9.8%
2.  Oct 2009 / 9.9%
3.  Nov 2009 / 10.0%
4.  Dec 2009 / 10.1%
5.  Jan 2010 / 10.1%
6.  Feb 2010 / 10.1%
7.  Mar 2010 / 10.1%

What do you think? End of recession or beginning of depression?


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