Thursday, February 4, 2010

Economists say more job losses likely on the horizon

Posted By on Thu, Feb 4, 2010 at 7:56 PM

It’s going to be a while before boom times come again, at least according to University of Montana economists who predict the state’s economy likely won’t begin growing again until 2013.

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UM’s financial guru, Patrick Barkey from the Bureau of Business and Economic Research, told those gathered for an economic summit yesterday in Bozeman that jobs across the state may very well continue to disappear during the coming months. Though the situation clearly sucks, there is a bright side. Montanans are doing comparably well, with a 6.7-percent unemployment rate, compared to national jobless rate hovering around 10 percent.

Meanwhile, there’s more uplifting news from the Labor Department, which tells us that Americans are becoming increasingly productive. It appears those who still have jobs are cranking out widgets faster to avoid becoming one of the nation’s 15.3-million unemployed.

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