Possible job growth for next two years
Economists at the University of Michigan predict that 3.5 million jobs will be created in the next two years – 900,000 in 2009 and 2.6 million in 2010.
The report brings good news for an economy that has seen 463,000 jobs lost so far in 2008, according to the Department of Labor.
The report, the U.S. Economic Outlook for 2008-2010, also predicts a total of 700,000 jobs will be lost in 2008.
Joan P. Crary, an assistant research scientist with the University of Michigan, said that this forecast is based on a belief that the economy will finally begin to rebound in the second half of 2009. She added that the increase in jobs will likely be broad-based, but that two hard-hit sectors could lead the comeback – construction and vehicle manufacturing.
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LAST UPDATED 8/27/2008