Lingering Unemployment Likely to Challenge Obama and the Nation - washingtonpost.com

Recovery's Missing Ingredient: New Jobs
Experts Warn of A Long Dry Spell

By Michael A. Fletcher
Washington Post Staff Writer
Monday, June 22, 2009


"Despite signs that the recession gripping the nation's economy may be easing, the unemployment rate is projected to continue rising for another year before topping out in double digits, a prospect that threatens to slow growth, increase poverty and further complicate the Obama administration's message of optimism about the economic outlook..."

"...Analysts say the high levels of joblessness would be accompanied by increases in child poverty, strained government budgets, and black and Latino unemployment rates approaching 20 percent."

"I find it unfathomable that people are not horrified about what is going to happen," said Lawrence Mishel, president of the Economic Policy Institute. "I regard all this talk about how the recession is maybe going to end, all the talk about deficits and inflation, to be the equivalent of telling Americans, 'You are just going to have to tough it out.' But we're looking at persistent unemployment that is going to be extraordinarily damaging to many communities. There is a ton of pain in the pipeline."

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Posted by Chuck Bell at 6:52 PM