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Branding the World of Sports

Economy expected to worsen in 2009

Posted by ZA on February 23, 2009

An Associated Press story on the negative report released by the National Association for Business Economics.  They are forecasting a worse economy in 2009 than originally predicted and expect the unemployment rate could surpass 10%.  If that comes true it will be the worse contraction of the US economy in over 25 years.

Yikes.

If you are looking for the silver lining in this otherwise gloomy story, it is that they expect the economy to start to rebound in the second half of 2009.  They say the growth will not be substantial, but it will be positive growth.  Goes on to say that things should be in much better shape in 2010, although the unemployment rate could stay high to start the year.

Another positive thought to keep in-mind; if you are good at what you do, then there will still be demand for you.  Companies still need talent, even in a hiring freeze, but they are only going to hire the top talent.  So make sure you are that person.

No way to know how accurate these predictions are, but pretty much everyone is saying its going to be a rough Spring and Summer.  Time for everyone to put our heads down and work hard to ride out this economic tsunami.

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One Response to “Economy expected to worsen in 2009”

  1. ZA:

    Great site. I am adding it to my list of hot sports/sports marketing Web sites in a section on my Web site called “Wade Blogs”.

    Thanks …

    Barry

    http://www.NYSportsJournalism.com

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