Click on the data for the projections as of December 12th 2008...
They projected an average of 8.3% unemployment for 2009, and 9.0% for 2010, reflecting the idea that even if the economy gets better, unemployment will not recover until next year. I think all economists would agree that we will not see month-on-month employment gains this year. It's just not in the cards. It also seems clear we'll hit 8.3% unemployment sometime in about 4-6 weeks, with additional increases in the unemployment rate for each of the following nine months.
The CBOs most current estimates are already a straight-up joke.
1 hour ago