2011 was a year of high unemployment, and according to one expert, next year won’t be any better.
When it comes to the unemployment rate, American Family Radio financial expert Dan Celia says it often goes unreported that many people have simply stopped looking for a job. “We’ve had an unusual amount of people drop off the unemployment rolls,” he notes. “So, of course, that has to be factored into it as well.”
And Celia does not think unemployment will drop much lower from the current 8.6 percent, even after the seasonal hiring for Christmas.
“That’s not to say that it won’t, but it would be suspect to me if it did,” he comments. “And again, we’ve got to take into account the 315,000 people that dropped off the rolls — and I even think that’s a low number. That just happens to be the official number.”
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