Bluefield Daily Telegraph, Bluefield, WV

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February 5, 2013

Forecast for 2013 is up, down and sideways

(Continued)

7. For the economy, the second lost decade continues. I am sticking with a 2 percent GDP growth forecast for 2013, but mostly because of the momentum left over from the 4th quarter of 2012.

8. Forget about employment. The news will always be bad. At this stage of the economic cycle, we should be generating a robust 400,000 jobs a month, not a paltry 150,000. I believe that the US has entered a period of long-term structural unemployment. Yes, we may grind down to 7 percent, but no lower than that.

So there you have it. We’ll check back next January and see how I did. Stay tuned for updates in what will be an important year. .

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Nick Massey is a financial columnist for The Edmond (Okla.) Sun. Contact him at www.nickmassey.com

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