A Sobering Forecast
Heidi Shierholz of the Economic Policy Institute recently offered a sobering forecast about the state of the American labor market in 2013.
… Using the ratio of the over-the-year unemployment rate to the official unemployment rate in 2011, we can project the over-the-year unemployment rate for 2012 and 2013. It is likely that 13.1 percent of the workforce, or more than one in eight workers, will be unemployed at some point next year [2013].
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