Unemployment Rate Forecast, by Quarters
The Graph of the Week is the quarterly unemployment rate forecast from the NABE Outlook. From the survey:
Economic weakness will be dominated by a retrenchment in consumer spending reflecting large employment and wealth losses. Job losses are expected to persist throughout 2009, though steadily diminishing over the course of the year; average monthly payroll losses of 421,000 during the first half of the year will taper to 114,000 during the second half. The jobless rate will peak at 9.0% by the end of the year. House prices are predicted to decline 5% during 2009, though the S&P 500 index is expected to rise a solid 8% by December 31, 2009.
NABE members can read the full survey here. They can also download the numbers used to make up this graph. A summary is available for non-members.
