The Recruiting News
(December 15, 2010)
Deutsche Bank Unemployment Rate Graph
By: Deutsche Bank,
US Bureau of Labor Statistics
Deutsche Bank: Here's Why Unemployment Has Been So Sticky And Why That's About To Change
According to the Business Insider:
Deutsche Bank economists were caught out last Friday in their bullish call on U.S. employment data, with the surprise higher number.
Deutsche Bank were calling for a 0.2% fall in unemployment in November when we actually saw a rise to 9.8%. But things are yet again about to change, because tax receipts suggest more people are employed than unemployment data does.
That doesn't mean Deutsche Bank is as bullish as it was before: the bank has revised its unemployment projections, calling for a fall to 8.8% in 2011, rather than 8.0%.
This cycle has had a stickier unemployment rate than usual (partially due to a lack of consumer spending and the hampered real estate industry).
Read more and see additional charts.
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