Fed's Rosengren Sees High Unemployment Next 2 Years Article

Unemployment in the U.S. is likely to remain elevated for the next two of years, but over time the country will return to "full employment," Federal Reserve Bank of Boston President and Chief Executive Eric Rosengren said Friday.

Rosengren's comments came as the U.S. Labor Department reported that employers shed many more jobs than expected last month, boosting the unemployment rate and underscoring that joblessness remains a big issue even as the economy shows signs of life.

Rosengren said the "unemployment rate will remain elevated for far longer than I would like," and for the next couple of years. But over time, he said, "I think the economy will get back to full employment."

Read Full Article from Wall Street Journal

- Posted: 2009-10-02 13:04:44

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