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Economist Predicts Recession
FOR IMMEDIATE RELEASE Media Contact: Dana Navarro
September 23, 2008 (773) 442-4227
d-navarro@neiu.edu
Economic Expert Predicts Next Set of Unemployment Data
will Show Deepening U.S. Recession
CHICAGO – Dr. Edward Stuart, professor, economics, Northeastern Illinois University is available today to discuss his prediction that the next set of unemployment data from the Bureau of Labor Statistics (due out Friday, October 3) will indicate that the United States is heading into an even deeper recession. Stuart is available for immediate interview.
· The hardest hit industries will include construction and financial services.
· With construction and manufacturing industries being among the hardest hit, male unemployment rates will continue to rise higher than female unemployment rates.
· The hardest hit regions will be where the real estate boom was the most active, including California, Florida, Arizona and Nevada.
· U.S. auto firms that continued to produce and market gas guzzlers will continue in free fall. Michigan will be hit particularly hard.
· One million more people were unemployed in December 2007 compared to December 2006.
· Hispanic and African American unemployment rates have increased the most.
Dr. Edward Stuart, professor, economics
Northeastern Illinois University, Chicago
Cell phone (773) 895-0354
E-Stuart1@neiu.edu
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