This recession will be the longest and most damaging of the postwar era, according to the latest forecast report from University of California, Los Angeles, spanning an estimated 19-24 months and building to a U.S. unemployment rate of 10.5 percent in mid-2010.

In "The Global Slump," one of the economic reports featured in the UCLA Anderson Forecast, senior economist David Shulman states that most of the "contractionary forces" on the economy "will have been spent" by the close of 2009. But the employment recovery from this recession "will be long and arduous," he notes, with the unemployment rate sticking above 9 percent through the end of 2011.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top