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Economic soothsayer: Unemployment
Economic Soothsayer Ruth Lordan joins the Marketplace Morning Report for a weekly economic outlook.
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Economic Soothsayer Ruth Lordan joins the Marketplace Morning Report for a weekly economic outlook.
TEXT OF INTERVIEW
STEVE CHIOTAKIS: And finally, let's preview and try and predict the coming week's business news with the Marketplace psychic. Joining us now is our resident economic soothsayer Ruth Lordan. She is joing us from Minnesota. Hi Ruth.
RUTH LORDAN: Hi.
CHIOTAKIS: So before we get to the economic news, I see you've predicted that the Minnesota Vikings quarterback Brett Favre is going to win the Super Bowl when he's 41. Remind me how old is Mr. Favre?
LORDAN: He's 40 now and he'll turn 41 in October.
CHIOTAKIS: All right, we're going to hold you to that, Ruth. We're going to call you back.
LORDAN: All right.
CHIOTAKIS: All right. Let's get to the business news, Ruth. On Friday, Ruth, the Labor Department discloses its monthly unemployment numbers. Currently the unemployment rate is somewhere just under 10 percent, just 9.5 percent, right? The news in August wasn't so good. Do you see a 10 or anything about the unemployment rate?
LORDAN: I hope I'm wrong. I'm seeing 10, 5.
CHIOTAKIS: So you're saying the unemployment rate will top 10 percent. Will go above 10 percent, perhaps to 10.5?
LORDAN: And my psychic feeling is that one facet of the unemployment number will get to 12 percent before we actually start doing something about it. So 12 percent will be the bottom.
CHIOTAKIS: All right, we're going to hold you to that. Ruth Lordan joining us from Minnesota. Ruth, thanks.
LORDAN: You're welcome.
About the author
Steve Chiotakis was the host of Marketplace Morning Report until January 2012.
On the weekly unemployment-i saw a 1! next time i better look more closely as it was a .1 . Had the right direction though, which was not the favored one. And the 12% is there in many areas of the country and segments of the economy now, so let's hope it is finally turning around. YES, I am sticking to my Brett Farve superbowl prediction
