Might take 4 years to get unemployed back to "normal"

Posted by: Darin Manis in Untagged  on Oct 09, 2009 Print PDF

The Wall Street Journal just released a survey they did with 48 economists which shows that on average these economists don’t expect unemployment (the U3 official unemployment percentage not the true “underemployment” U6 rate) to fall under 6% until 2013.

On average the economists expect the unemployment rate to peak at 10.2% next February. This would mean a true unemployment rate at near 20% meaning one out of five eligible working Americans would be unemployed or underemployed.

The WSJ points out that it took less than 14 months to go from 5.8% to the current 9.8%. The economists in this survey on average say it will take nearly 4 years for the rate to drop below 6% again.


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