First-time jobless claims drop slightlyThe number of newly laid-off workers requesting unemployment …
In this Jan. 23, 2010 file photo, job applicants fill out forms at a job fair in Santa Clara, Calif. (AP Photo/Paul Sakuma, File)
First-time jobless claims drop slightly
Jobless aid measure clears Sen. hurdleLegislation to give additional months of unemployment benefits …
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Jobless rate said likely to stay high
Forecast: 9.8 pct. unemployment at end of 2010
Updated: Monday, 01 Feb 2010, 1:35 PM EST
Published : Monday, 01 Feb 2010, 1:19 PM EST
WASHINGTON (AP) - The Obama administration is predicting little improvement in the nation's unemployment rate by the end of the year.
Although President Barack Obama says the multitrillion-dollar spending plan released Monday is designed to get Americans back to work, the administration forecasts 9.8 percent unemployment at the end of this year. That would be down only slightly from the current rate of 10 percent.
Those predictions are in line forecasts from independent economists. The administration is predicting 8.9 percent unemployment at the end of 2011, and 7.9 unemployment percent by the end of 2012.
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