Change in Unemployment Forecasts
The Graph of the Week comes from the November 2008 NABE Outlook, and compares the quarterly unemployment rate forecast (red line) with the quarterly unemployment rate forecast in the October 2008 NABE Outlook. From the survey
The jobless rate is expected to rise to 7.5% by year-end, 2009–up markedly from October’s forecast of a peak of 6.2%. Job losses are expected to persist through the third quarter of 2009, though the NABE panel expects the losses to diminish steadily as the year unfolds.
NABE members can read the full survey here. A summary is available to the public.