The economists are increasingly pessimistic about the economy, predicting it will shed another 2.8 million jobs over the next 12 months as the unemployment rate climbs to 9.3% by December, up from the 8.1% rate recorded in February. Economists see a one-in-six chance that the U.S. will fall into a depression, defined as a decline in per-person GDP or consumption by 10% or more. They give equally poor marks to the efforts of other countries to end the recession. | The economists are increasingly pessimistic about the economy, predicting it will shed another 2.8 million jobs over the next 12 months as the unemployment rate climbs to 9.3% by December, up from the 8.1% rate recorded in February. Economists see a one-in-six chance that the U.S. will fall into a depression, defined as a decline in per-person GDP or consumption by 10% or more. They give equally poor marks to the efforts of other countries to end the recession. |