Expect 15% Unemployment By April
Nov 7th, 2008 | By J. Christoph Amberger | Category: Financial NewsUS jobless rate rose to 6.5% in October, the highest rate since March 1994. In the last three months alone, 651,000 jobs were cut. J. Cristoph Amberger says this is only going to get worse as more firms are forced to cut costs. He expects double-digit unemployment by January, rising to 15% by April.
This from Today’s Financial News:
I received a bunch of emails today from people who run businesses. Some are doctors. Other run construction companies or retail businesses. One doctor wrote: “I do have 18 non-physician employees in my practice. We partners plan to have a meeting before the end of the year, and decide the 2-3 employees that will have to be eliminated. Obama’s help for the middle class…