[categories: Washington Bankruptcy Attorney]
The Seattle Times, Kristi Keim, page A13, January 14, 2011:
The U.S. is expected to chip away at unemployment only very slowly reports Michael Dueker, Russell Investments’ head economist for North America.
Usually, a recession is followed by a fast snap back to growth, as happened in the early 1980s. The economy grew 7.0% annually for the next year and one-half. This is not happening, says Mr. Dueker, and it will take all of 2011 to get the unemployment rate reduced by a mere 1/2 percentage point.
In contrast to slow U.S. growth, the world economy is expected to grow at 4.0% to 5.0% this year.
Ken Goldstein, an economist with The Conference Board, notes that the U.S. will grow only 2.5% this year and 2.6% in 2012. Confidence in the economy is a major problem, according to Ken Goldstein.