I’m sure you saw this headline over the weekend: “N.C. jobless rate hits 10.1%.”
What should have been the real headline was buried halfway down in the article, in this quote from Senior Economist for Wells Fargo Securities Mark Vitner:
“I am afraid the jobless rate is likely headed a bit higher, probably to 10.5 percent, over the next few months.”
He would know.
Bonus Prediction: Vitner’s job is to make things sound sunnier than they actually are. If Vitner says 10.5% unemployment, go ahead and assume reality to be somewhere between 10.7% and 11%.
