United States Unemployment Rate Falls to 9.5% but Fear of a Double Dip Looms Claim Economists
Posted on | July 27, 2010 | No Comments
The United States unemployment rate dropped from 9.7% in May to 9.5% in June which is a good sign for the economy but there are some economists that feel the possibility of a double dip is higher than earlier predicted. This morning, Yale economics professor, Robert Shiller stated that the probability of a double dip is greater than 50% and he expects to see a double dip in the near future.
Only July 26th, CNBC spoke with Nouriel Roubini and he feels that even if we don’t see a double dip quickly there is still the possibility of a recession down the road. A very good video of the interview with Roubini is available at this link. He also feels that there is no reason to believe that there will be massive job creation.
The national unemployment rate falling to 9.5% is great but unfortunately this number is displaying what happened in June 2010. What happens in July and thereafter is much more important for those who have expired their unemployment benefits and continue to struggle to find a job. Many Americans who struggle with this continue to voice their opinion at tell their stories.
Author: Heather Best
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