2010 unemployment to be higher than 2009: US 9.5%, EU 10.2%, Spain 15.7%

]Marketwatch

Obama faces only one more bad year for economy
But economists see unemployment rising throughout 2009 to 8.8%
By Rex Nutting, MarketWatch
Last update: 8:17 p.m. EST Jan. 16, 2009

"...The unemployment rate is expected to rise to 8.8% by the fourth quarter of the year, they said. That would be the highest jobless rate since the aftermath of the 1982 recession.
...
The recession is "a long one and it's getting deeper," said Brian Fabbri, chief North American economist for BNP Paribas, who predicts the economy won't begin to grow again until the fourth quarter of 2009 or even the first quarter of 2010. "We'll have many, many more job losses," he said predicting the unemployment rate would rise to 9.5% at its peak in the middle of 2010...."

&dist=msr_1]Marketwatc h

European Union chops growth forecasts

By William L. Watts, MarketWatch
Last update: 9:22 a.m. EST Jan. 19, 2009

"...Unemployment is forecast to rise from 7.5% in 2008 to 9.3% this year and 10.2% in 2010. Inflation is set to fade from 3.3% to 1% in 2009, then push back to 1.8% in 2010...The commission said the global financial crisis is now taking a significant toll on the real economy, boosting the risk of a "negative feedback loop" between the financial sector and the real economy that could be stronger and longer lasting than assumed in the current projections...."

www.forbes.com...
Thomson Financial News

Spain cuts 2009 GDP forecast to -1.6 pct
01.16.09, 08:30 AM EST
"...Unemployment rise to 15.9 percent in 2009, dropping to 15.7 percent in 2010 and 14.9 percent in 2011...."

[edit on 19-1-2009 by Dbriefed]

US unemployment in 2009 will near 10% by September and finish the year at 10.8%. 2010 unemployment is unforecastable due to the many variables that may come into play in the interim. It could go as high as 15.5% or as low as 11.5%. Unfortunately inflation will accelerate to 5.5% by 2nd qtr 2010 and could achieve double digits before the end of 2010. The country will officially be in a depression no later than sep 2009 and depending on government response will continue from 1 - 4 years .

Dr. Doom

Hey Dr. Doom,

Where did you get those figures from?

The unemployment rate of the US is already way above 9.5%.....
They just make the numbers look nicer than they are. I call it creative statistics. You can find it in every corporation around the world.

The real unemployment is already at 13.9%, that number the Govt puts out is a load of crap. For real unemployment you want U6.

www.bls.gov...

www.abovetopsecret.com...

The U-3 unemployment isn't 9.7%. That is a beautiful lie. The reality for August was 10.98% or thereabouts,whilst september U-3 will be 11.55%.
They will no doubt not even change it for September.

And U-6 (include all the people who have stopped looking for work,which is millions + all the housewives and mothers who are in the same boat, they aren't loking for work. And there are at least 10 million housewives in the USA who fall under that category)
And I'm not even adding people who have part-time jobs. Without them alone the U-6 is 20.3% and september will be around 21.4%

25 percent by the end of Decemer !

This 9.7% is a joke. People are falling off the jobless claims in hundreds of thosuands each month now and STILL unemployment is rising.

34% by June U-6