Monday 23 March 2009

Unemployment could double to 4m, predicts David Blanchflower

Telegraph
"A prominent Bank of England policymaker has cast doubt on the Bank's forecasts and predicted that the recession could be deeper and last far longer than policymakers admit.
......The warning, which preceded a sudden fall in the pound, is particularly significant since Mr Blanchflower is renowned for having presciently warned more than a year ago about the scale and significance of the economic crisis. He correctly predicted last year that unemployment would reach 2m by the turn of this year."

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