Obama economist: High future unemployment

Adviser Austan Goolsbee appears on "Fox News Sunday," announces foreseeable economic pain


Associated Press
September 12, 2010 9:02PM (UTC)

The new chairman of President Barack Obama's Council of Economic Advisers says Americans can expect to see the high unemployment rate continue for some time.

Speaking on "Fox News Sunday," Austan Goolsbee said the recession that began in 2007 put the U.S. economy deep in the hole and it's going to be a long struggle to get out.

Advertisement:

The unemployment rate is now at 9.6 percent, and Goolsbee declined to speculate what it might be at the end of the year.

But he says he doesn't think the rate will be coming down significantly anytime in the near future.

Goolsbee takes over the council's chairmanship from Christina Romer, who left the White House earlier this month to return to teaching.


Associated Press

MORE FROM Associated Press

Related Topics ------------------------------------------

Bank Bailouts Bank Reform Barack Obama Economics Unemployment U.s. Economy

BROWSE SALON.COM
COMPLETELY AD FREE,
FOR THE NEXT HOUR

Read Now, Pay Later - no upfront
registration for 1-Hour Access

Click Here
7-Day Access and Monthly
Subscriptions also available
No tracking or personal data collection
beyond name and email address

•••






Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •