- Employment News
New Year, New Unemployment Rate
Once again the housing slump and credit crunch will affect unemployment rates in the coming year. The rate is predicted to rise from 4.7 to 4.9%. However, Treasury Secretary Henry Paulson remains optimistic.
"While the difficulties in housing and credit markets and the effects of high energy prices will extract a penalty from growth, the U.S. economy has many strengths, and I expect the expansion to continue."
But one thing economists are concerned about is the possibility of consumers and businesses cutting back on spending and investing. This could then cause economic growth to backtrack. "Spending by consumers and businesses is the lifeblood of the country's economic activity," says an article on CNNMoney.com.
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"While the difficulties in housing and credit markets and the effects of high energy prices will extract a penalty from growth, the U.S. economy has many strengths, and I expect the expansion to continue."
But one thing economists are concerned about is the possibility of consumers and businesses cutting back on spending and investing. This could then cause economic growth to backtrack. "Spending by consumers and businesses is the lifeblood of the country's economic activity," says an article on CNNMoney.com.
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 slump consumers growth strengths United States theory spending U.S. economy economic activity businesses |
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article ID: 230045 http://www.employmentcrossing.com/article/230045/New-Year-New-Unemployment-Rate/ article title: New Year, New Unemployment Rate
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