Governor Scott: Please Take Note about Employment in Florida

This is more on how long it will take to get our economy back to where it was in 2007.  Take note Governor Scott–even with your greatest effort unemployment in Florida will not be back to “normal” during your governorship.

So, suppose that US growth is accelerating. Even so, it will take years of high growth to get us back to anything resembling full employment. Put it this way: suppose that from here on out we average 4.5 percent growth, which is way above any forecast I’ve seen. Even at that rate, unemployment would be close to 8 percent at the end of 2012, and wouldn’t get below 6 percent until midway through Sarah Palin’s first term.

via The Long Road Ahead – NYTimes.com.

About Stephen E. McGaughey
International consultant in economic development programs and projects

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