CBO: Expect 9% Unemployment Through 2011

by Stephan Tawney on August 19, 2010

Americans shouldn’t expect a significant recovery in the area of employment anytime soon. In fact, workers should brace themselves for a national unemployment rate around 9% through 2011. Those are the conclusions of the official, non-partisan Congressional Budget Office.

The report also projects a gross domestic product (GDP) growth rate of just 2.1% and a national deficit totaling about $1.1 trillion. That latter figure doesn’t take into account new spending proposals or a future drop in tax revenue thanks to a slumping economy.



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