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Brad Olsen: Treasury unemployment forecast is unrealistic

Author
Newstalk ZB,
Publish Date
Wed, 27 May 2020, 3:29pm
Photo / File
Photo / File

Brad Olsen: Treasury unemployment forecast is unrealistic

Author
Newstalk ZB,
Publish Date
Wed, 27 May 2020, 3:29pm

There are concerns high unemployment rates will stick around longer than expected.

Treasury has estimated unemployment will peak at 9.8 percent in September, then bounce back to 5.7 percent by 2022.

But Infometrics Senior Economist Brad Olsen told Mike Hosking these predictions are unrealistic.

He says getting back 190,000 jobs over two years, is far greater than the 60,000 jobs over three and a half years during the global financial crisis.

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