We Have Seen the Future and. . . . Yuck!

At least that's according to a WSJ survey of economists:

The 48 surveyed economists, not all of whom answer every question, expect the economy to bounce back from four quarters of contraction with 3.1% growth in gross domestic product at a seasonally adjusted annual rate in the just-ended third quarter. Expansion is seen continuing through the first half of 2010, though at a slower rate. But the massive downturn has left an open wound in the labor market that will take years to heal. On average, the economists don't expect unemployment to fall under 6% until 2013; unemployment in September hit 9.8%

No real surprise here, but a reminder of why job creation needs to be front and center in terms of government policy for the foreseeable future. The full article is here.