Dec
03

Moore School Sees Bleak S.C. Economy until Mid-2009

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– Columbia Regional Business Report

The Moore School of Business issued a dire economic outlook for South Carolina in 2009, predicting shrinking job prospects for those out of work and a rising unemployment rate.

The University of South Carolina economists presented the austere forecast at the Moore School’s annual Economic Outlook Conference held Wednesday.

Economists Paulo Guimaraes and Douglas Woodward predicted a net loss of 22,000 jobs next year and said the unemployment rate in the state will rise to 8.6%. Between February and October 2008, the state’s unemployment rate went from a relatively low 5.5% to 8%, a 25-year high.

“The South Carolina data indicate that the economy is in recession, and it is unlikely that there will be improvement in the economy until at least the middle of 2009,” said Guimaraes, a professor in the Division of Research.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.columbiabusinessreport.com/news/25785-moore-school-sees-bleak-s-c-economy-until-mid-2009?rss=0

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