Recession in 2008 Will Lead to Grim Economic Realities for Millions in U.S.

January 31st, 2008 by GoldSilver | Posted in Economic News |

“What We’re In For: Projected Economic Impacts of the Next Recession,” by John Schmitt and Dean Baker paints a grim economic picture in the event that the United States falls into a recession this year.

Even a mild recession in 2008 would add 3.2 million workers to national unemployment by 2010, according to a new report from the Center for Economic and Policy Research. A severe recession, the group estimates, could make 5.8 million more workers unemployed by 2011.

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