Monday, Oct 5th, 2009
High unemployment and a lack of stimulus for private demand by countries like Japan and Germany could slow down the world recovery, famous bear Nouriel Roubini, chairman of RGE Monitor, told CNBC Monday.
“I see the unemployment rate rising through most of 2010,” Roubini told CNBC.
“Not just is going to go above 10 percent but the risk is it’s going to stay above this level and return to more normal only more gradually and that’s going to be one of the important sources of weakness for an economic recovery,” he added.
Nonfarms payrolls in the US rose more than expected in September, while the unemployment rate was 9.8 percent, the Labor Department reported Friday.
This article was posted: Monday, October 5, 2009 at 3:30 am