Nouriel Roubini; Unemployment Will Remain High Until at Least Late 2010
Posted on | November 16, 2009 | 2 Comments
Nouriel Roubini has been a bear on the overall U.S. economy for quite some time and he reiterated his stance last week. In a statement to Daily News Roubini expressed his concern for long term unemployment. After the conclusion of the last recession, November 2001, job losses continue for another year and a half until the middle of 2003. There is no reason that this recession will prove to be different.
If this is the case we can expect to see unemployment in the double digits until at least late 2010. All the economic data that has been released suggest that it is going to take quite a significant period of time for the jobs to come back. Many major corporations have found out that they can run their business with less employees which is going to greatly hinder the job market.
If you are unemployed and looking for a job it is going to take a very specific skill set. Many unemployed Americans are going back to school or learning a different trade so they can show they are valuable to companies. There are jobs out there but it seems that those who are unemployed are finding it very difficult to get their foot in the door without setting themselves apart from the crowd.
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Author: Tiffany Mann
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2 Responses to “Nouriel Roubini; Unemployment Will Remain High Until at Least Late 2010”
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November 16th, 2009 @ 6:31 pm
This means now is the time to find out our Job Security Score and prepare. I know many people who have lost their jobs, many are in the process of being let go, and almost everyone I know is worried sick. My job security score is not bad but not everyone can have a good score. It’s better to know and prepare than be ignorant and surprised.
http://en.wikipedia.org/wiki/Job_security#Job_Security_Score
November 16th, 2009 @ 6:36 pm
Here is another link for free Job Security Score and interactive map. It’s pretty cool! You can find job security score for each state and drill down to each county if you want. Also, you can simulate job security scores any number of times by reentering information.
http://scorelogix.com/imap/credit.comLP03/