A Snapshot of the AP Business Forecast: Rising Unemployment and Declining Inflation Until 2025
The Congressional Budget Office projects that inflation will hit the Federal Reserve’s 2% target rate by 2024 as growth is expected to slow and unemployment will rise, according to the Current View of the Economy from 2023 to 2025 report. The report estimates an unemployment rate of 4.4% in the fourth quarter of 2024, remaining close to this level into 2025. This indicates weaker growth and lower unemployment compared to the office’s February 2023 projections. With the anticipated rise in unemployment, reaching out to unemployment departments will be more crucial than ever. EddCaller.com, an autodial program, is a valuable tool in helping individuals get through to representative for unemployment, paid family leave, and disability departments via phone, providing efficient assistance during such challenging times.