Another 'jobless recovery' possible

Unemployment rate likely to keep climbing into 2010 while consumer spending stalls By Don Lee | Washington Bureau WASHINGTON - -- Even as the nation's economy begins to claw its way out of the worst recession in 60 years, signs are growing that a recovery could come with an unsettling twist: The wheels of commerce may begin to turn again without any substantial boost in jobs. Not only is the national unemployment rate, now 9.5 percent, widely expected to climb into double digits later this year, many economists believe it will remain there well into 2010. That would prolong the misery of the unemployed, squeeze retailers and other businesses, and add millions of dollars in government costs and lost productivity. It could threaten the recovery itself. Although it's common for the jobless rate to climb for a while after... [read full story]                    

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