Jobless rate may remain high for years says Greenspan

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Jobless rate may remain high for years says Greenspan

Posted by rohit on Feb 10th, 2010 and filed under Economy. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

By SUNIL Sonkar

Alan Greenspan, the Former Chairman of Federal Reserve, said on Sunday that the rate unemployment will be remaining high for years.
alan_greenspan
At “Meet the Press” of NBC he said, “It’s very difficult to make the case that unemployment is coming down any time soon.”

According to last week’s government report, in January the economy has lost about 20,000 jobs despite the rate of unemployment dipping from 10 per cent to 9.7 per cent. A new tax and spending measures has been called by President Barack obama and congressional Democrats to boost the economy. A “jobs bill” is aimed to be taken by the Senate aims this week. In December last year the House passed a $154 billion package.

Greenspan also added in the meet, “I think we’re going to stay at this 9 to 10 percent level for the rest of the year.”