The US Federal Reserve has warned that the US economy is still on target to grow strongly during 2010, but unemployment will remain high. In its latest forecast, the Fed said that the economy would expand between 2.8 per cent and 3.5 per cent this year better than its previous estimate of 2.5 per cent to 3.5 per cent. The unemployment rate is expected to remain between 9.5 per cent and 9.7 per cent this year easing to 8.2 per cent to 8.5 per cent next year. The Fed said in its latest economic forecast that it would take "some time" for the economy and the jobs market to get back to normal.
News On AIR | February 18, 2010 10:03 AM
US unemployment 'to stay high despite economy growing'