U.S. unemployment could reach 10 percent by next year, leaving more than 13 million Americans out of work, according to a new poll of economists commissioned by Reuters. The poll suggests that the jobless rate, currently at a 25-year high of 8.1 percent, could climb to 9.6 percent, by early next year. Reuters reported that economists predict the U.S. economy will begin to recover slightly by the third quarter, but that the experts surveyed have revised downwards their predictions from just one month ago. Median forecasts now believe gross domestic product will decline by an annualized 5.3 percent this quarter, Reuters said. The survey found economists expect the recession to continue into the second quarter, but fall to a 2 percent drop and then stabilize by the summer. Economists said they expect GDP to improve by autumn. The predictions, which were offered with caution because the economic situation remains so volatile, forecast non-existent inflation. The consumer price index is expected to fall for the first nine months of this year, with a 2.2 percent decline in the third quarter.
