In a report released by National Association for Business Economics, economists believe employment recovery will be slow and the unemployment rate high. They agree that most jobs will not return for three years, stalling out any real recovery.
This report from the NABE would appear to contradict recent claims of a recovery already underway. Simply put, growth means jobs and if there are no jobs can there really be growth? A more reasonable conclusion is the economy may no longer be spiraling downward, but it has yet to begin the upward climb. This is the real problem.
The perception of the general public will remain negative as the unemployment rate is the most reliant indicator for the average person. If this number remains high, the fear of them being next will remain, forcing the consumer to curb spending, tighten investing and stall the economy.
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