Mass. Unemployment Rate Could Hit 8.3% By 2010

If you were hoping the economy had already hit rock bottom, you may have to think again. According to a new forecast, the state will remain in recession through much of 2010.

The latest analysis from the New England Economic Partnership, or NEEP, says growth will be flat next year. Unemployment is likely to peak at 8.3 percent within two years, and housing prices will fall another 5 percent before bottoming-out.

Economist Alan Clayton-Matthews is president of NEEP, and a professor of public policy at UMass-Boston. He joins us this morning for more on the findings.