Robert Reich: Expect 10% Unemployment Until 2011

Complete video at: http://fora.tv/2010/01/22/Robert_Reich_Bank_of_America_Annual_Economic_Forecast

Former U.S. Secretary of Labor Robert Reich predicts the national unemployment rate will still be around 10 percent one year from now. He explains that the Bureau of Labor Statistics classifies the "unemployed" as those actively seeking work, a demographic he believes will increase as the state of the economy improves.

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Is the U.S. economy showing signs of recovery, as some indicators suggest, or are these assertions dangerously premature?

Having served in three administrations, former U.S. Secretary of Labor Robert Reich is uniquely positioned to share his take on the 2010 economic outlook for California, the U.S., and the rest of the world in this year's annual installment of the Walter E. Hoadley Economic Forecast. - Commonwealth Club

Robert Reich is professor of public policy at the Goldman School of Public Policy at UC Berkeley. He served in three national administrations; his articles appear frequently in The New York Times and The Washington Post, and he is a commentator for American Public Media's "Marketplace," heard on NPR.

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[aityadeen123]

@heezy23456666 when you learn how to wipe shit of your ars ,come talk to me .till them go play with the traffic you filthy zionist cunt

[heezy23456666]

@aityadeen123 You are a fucking idiot.

[pilgrim959]

The Obama Administration has come to the realization that their plans have destroyed the American economy, but their hope is revealed in the memo handed out to all their Democrat flunkies to refer to this Obama double dip recession as the "Tea Party downgrade."

Candidate Obama had all the answers and President Obama has none of them. All he has done since he became President is blame someone else for his failures. It's called "Passing the Buck," and he's very good at it.

[RadarKat73080]

@LUVJONZ99 Of course, just saying Bush lit the fuse. He ran up the debt and spent the Clinton surplus. He give lenders free reign to create the housing bubble.

[LUVJONZ99]

@RadarKat73080 Actually many activities contributing to this recession started as early as 1973.........

[UnitedPebbles]

You got to give time for people to adjust and calm their fears. The psychological behaviors of most people these days are not as optimistic as once were. Californians do not re-invest in themselves but depended heavily in New Englanders as op. providers or life planners. They also borrow a lot to afford their wants and needs.

NY, MA, & other investors need time to build up funds and calm their fear before they reinvest in the West Coast again. But the general policies are not friendly.

[09geauxtigers]

I read today that there is expected to be another wave of massive layoffs coming. Unemployment will over 10% soon. This is not going away anytime soon. Not only is the economy that is responsible but what isn't mentioned that often is that many of these jobs are being replaced by technology. We were warned decades ago that people needed to get training and education in tech, management, business, engineering, etc. Blue collar jobs are a thing of the past.

[nowthatsinteresting1]

Unemployment stats - yet another number that has been fiddled with so much by the politicans that even they don't know how many people are unemployed. Ones thing's for sure - there aren't enough jobs in the West since the corporations were given freedom to look for the cheapest labour in the country with the weakest employment law. Ah, the global free market - cheap crap for us to buy, and nothing else matters.

[aityadeen123]

another zionist lier, it looks to me that the average person needs to teach bankers ,politician and economist the reality of things this days, i don't really know if they are trying to lie to us or lie to them selves, or just been a bunch of economic terrorists or simply idiots , the reality is the economy is fucked, US unemployment stands at over 27millions unemployed, that is way over 25 per cent. USA MUST REVOLT AGAINST ZIONISM.