Wednesday, March 24, 2010
UCLA Anderson Forecast: Bipolar Economy Through 2011
In a new report released today by the UCLA Anderson Forecast released a report today saying that the economy is in a "bipolar" condition, where the economy is growing, but where unemployment continues to stay in the double digits. The forecasting effort said it is seeing slow-but-sure growth in the national gross domestic product, but predicts an unemployment rate to remain in double digits until 2012. David Shulman, Senior Economist at the UCLA Anderson Forecast, suggests in the report that the economic stimulus in Washington may have unintentionally created "economic schizophrenia"--where there is growth, but where businesses have decided not to make long term hiring decisions.