Economists see continued job slog

No relief in sight, according to the WSJ survey - and that even assumes there is no recession:

On average, the economists expect the economy to add just 1.5 million jobs over the next 12 months, barely enough to keep up with population growth. They forecast the jobless rate will be at 8.2% at the end of 2013, a decline of less than one percentage point over more than two years. Those numbers could look even worse if the U.S. falls into a recession. The economists, on average, put nearly 1-in-3 odds of another downturn hitting the U.S. economy in the next 12 months.

Consensus among the economists is for economic growth of just 1.5 percent in 2011, increasing to 2.3 percent next year and 2.7 percent for 2013. To give you an idea, average growth runs around 3 or 3.5 percent.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
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