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UPDATE 1-White House reveals jobless forecast-but disavows it
Reuters: Financials
Thu, 9 Feb 2012
WASHINGTON, Feb 9 (Reuters) - President Barack Obama will forecast a U.S. unemployment rate averaging 8.9 percent in 2012 in his annual budget on Monday - but before the document was even released a top aide called the projection "stale" and said it should be be lower.
Morningstar employment sector analyst Vishnu Lekraj forecasts unemployment ticking higher still but sees an inflection point in the pace of job losses.
Strong October hiring in retail may have pulled forward some job growth, say Morningstar's Bob Johnson and Vishnu Lekraj, but even more growth is needed to move the unemploymentrate .