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Economic soothsayer: Unemployment

Steve Chiotakis Aug 24, 2010
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Economic soothsayer: Unemployment

Steve Chiotakis Aug 24, 2010
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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.

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