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Unemployment Could Hit 9% This Year: NABE

AP [1]
Monday, Feb 23, 2009

Brace yourself: The recession is projected to worsen this year.

The country stands to lose a sizable chunk of economic activity in 2009 as consumers at home and abroad retrench in the face of persistent economic troubles.

And the U.S. unemployment rate—now at 7.6 percent, the highest in more than 16 years—is expected hit a peak of 9 percent this year.

That gloomy outlook came from leading forecasters in the latest survey by the National Association for Business Economics to be released Monday.

Full article here [1]