In order to improve on the current 9.6 unemployment rate in the US, experts say the economy must grow at a rate of at least 5 percent. The latest annual growth rate results show the economy is growing at a rate of 2 percent with little prospect of significant increase in the short term.
“We can hope for strong growth, but it is not happening,” says economist Joel Naroff of Naroff Economic Advisors. “A robust recovery was never possible because the problems in the housing and financial sectors were not going to disappear overnight.”
Source: The Associated Press
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