Maybe the sky is not falling after all. When it comes to the U.S. economy, experts abound, including some at Darden. This morning, The Christian Science Monitor checks in with Peter Rodriguez, an economist at the University of Virginia’s Darden School of Business, to explain why, given escalating gas and food prices and tightening credit, the unemployment numbers weren’t worse last month. "I don’t expect this to be a recession of the type that we had in the 1970s," he says. "Employers have been judicious in making payroll cuts. That’s more or less good news."
Ya hear that? "More or less good news." Feel better now?
Rodriguez: Unemployment won’t get to 1970s level, when 9 percent of us were out of work.
