Obama Advisers Predict High Unemployment, Low Growth for Next Five Years


A report on the economic condition of the nation by the Obama Administration's Council of Economic Advisers is providing a clearer picture of just how much longer and more difficult the economic recovery is likely to be.

Released Thursday, the annual Economic Report of the President predicted the U.S. unemployment rate would average 10% for this year, would drop to 8.2% by 2012, and remain at levels higher than 6% until 2015. The report also said the U.S. gross domestic product would increase by 3% in 2010, then rise to 4.3% in both 2011 and 2012 before slipping slightly to 4.2% in 2013 and dropping down to 3.4% by 2015.