Economists: Unemployment Won't Drop to Normal Until 2018 http://www.moneynews.com/Headline/US-AP-Economy-Survey/2010/10/28/id/375197?s... ....."The latest quarterly AP Economy Survey shows economists are pushing back their estimates of when key barometers of economic health — hiring, spending, expansion — will signal strength.
In their view, shoppers and employers will stay cautious. Households will keep saving. Inflation will remain tame. And unemployment will dip only a bit from the current 9.6 percent rate to a still-high 9 percent at the end of 2011.
In the previous survey in July, the economists predicted unemployment of 8.7 percent at the end of next year. In the survey before that, they foresaw 8.4 percent.
Some now think unemployment won't drop to a historically normal 5.5 percent to 6 percent until at least 2018 — several years later than envisioned earlier."....
In their view, shoppers and employers will stay cautious. Households will keep saving. Inflation will remain tame. And unemployment will dip only a bit from the current 9.6 percent rate to a still-high 9 percent at the end of 2011.
In the previous survey in July, the economists predicted unemployment of 8.7 percent at the end of next year. In the survey before that, they foresaw 8.4 percent.
Some now think unemployment won't drop to a historically normal 5.5 percent to 6 percent until at least 2018 — several years later than envisioned earlier."....
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