Mendoza School of Business

Professor sees 9 percent jobless rate lingering

Published: August 17, 2011 / Author: Jim Meenan

 Don’t expect the unemployment number to go down appreciably from where it is now.

The U.S. could be stuck near 9 percent unemployment for some time.

That’s what Jeff Bergstrand, professor of finance at the Mendoza College of Business at the University of Notre Dame, thinks. And Jim Patterson, associate editor for Kiplinger, a Washington, D.C.- based personal finance magazine, seems to agree.

What amounts to a new economy seems to have arrived, whether Americans like it or not.

“We are entering an era that people have to prepare for — that the unemployment rate is not going to come down significantly for the next several years,” Bergstrand said.

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Topics: Mendoza