CBO Projection Underestimated Unemployment Rates

In the back of my mind, I have been hoping that maybe I am wrong, that I have a pessimistic view of the world, and things are actually going to get better sooner than later. It sucks being right... Elmendorf Sees Even Bleaker Jobless Outlook CBO Director Elmendorf said today the country has not yet seen the worst of joblessness, despite some encouraging signs of economic growth. Speaking at the American Association for Budget and Program Analysis' fall conference, Elmendorf said the CBO projection of this past summer, which saw the unemployment rate peaking at 10.5 percent next year, underestimated…
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