Press Releases | Economic Growth

News from EPI Without federal intervention, unemployment would be near 16%

For Immediate Release: Wednesday, August 4, 2010
Contact: Phoebe Silag or Karen Conner, 202-775-8810

Today, with nationwide unemployment close to 10% and millions of jobs still needed to return to pre-recession employment levels, it can be easy to overlook the enormous economic progress that has been made since early 2009, when monthly job losses averaged almost 750,000 and GDP was severely contracting. Today’s Snapshot shows that if the federal government had not intervened to rescue the economy, the unemployment rate would be close to 16% today. CLICK HERE for Snapshot.

See related work on Recession/stimulus | Economic Growth