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05/22/2015 | | bow-tied economist, econ70, Economic forecasting, economist on radio, economist on TV, eisenberg and economics, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, entertaining economist, funniest economist, funny housing economist, Graphsandlaughs, graphsandlaughs and eisenberg, Great public speaking economist, housing sales, MLS, mortgage banking, Multiple listing service, politics and economics, Public speaking economist, www.econ70.com
In 3/07, the unemployment rate hit a cyclical low of 4.7%. Today it’s 5.4% and a rate of 4.7% will soon be reached. The question is when. Assuming employment growth of 211,000/month, the 3-year average monthly rate, the unemployment rate will hit 4.7% in 10.5 short months. Even with employment growth of 170,000/month, just 70% of the most recent 12-month average rate, 4.7% unemployment happens in 18 months.