Federal Reserve Bank of Dallas: "..we’re going to end the year with an elevated unemployment rate"
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Federal Reserve Bank of Dallas: "..we’re going to end the year with an elevated unemployment rate"
Although U.S. employment will increase in the coming months, the jobless rate will remain elevated through the end of the year, said Robert Kaplan, president of the Federal Reserve Bank of Dallas.
"We’re on our way down right now," Kaplan said Sunday in an interview on CBS.
"We’re going to get positive job growth in June, July and from here. Even with that growth, we’re going to end the year with an elevated unemployment rate."
The Fed forecast unemployment would fall to 9.3% in the last three months of the year in its quarterly economic projections released June 10.
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