Thayer: Brace For Impact Of 10% Une...
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  Thayer: Brace For Impact Of 10% Unemployment

Play Thayer: Brace For Impact Of 10% Unemployment Thayer: Brace For Impact Of 10% Unemployment

"Unfortunately, it is bad," says economist Gary Thayer of the new 10.2% unemployment rate. "Above 10% is a real dampening effect on the economy," says Thayer, the chief macro strategist at Wells Fargo Advisors. "This is going to have a psychological impact on a lot of businesses and consumers, so I don't think there's going to be a quick turnaround." Thayer thinks the jobless rate will remain high until the end of next year, though does he hope we can start talking about jobs growth much sooner.


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