ECONOMIC REBOUND FORECAST FOR 2010

The members of the National Association for Business Economics (NABE) see a sharp decline in economic activity throughout the first quarter of this year with continued contraction in the United States through second quarter and a virtually flat third and fourth quarter. The result will be a net decline of 0.9% in GDP for 2009, according to the February Outlook survey.

"The good news is that economic activity is expected to turn up in the second half of the year and 2010 is expected to see modestly above-trend growth of 3.1%" according NABE President Chris Varvares, president of group Macroeconomic Advisers and a member of the NABE. The NABE Outlook survey presents the consensus of macroeconomic forecasts from a panel of 47 professional economic forecasters.

Among the key forecasts of the February 2009 survey:

• The current downturn will most resemble that of 1973-75.
• Real government spending will advance 2.8% in 2009.

• The consumer price index will decline 0.8% in 2009, as already large commodity price declines pass through to consumer prices.

• The jobless rate will peak at 9.0% by the end of the year. House prices will decline 5% during 2009, though the S&P 500 index is expected to rise a solid 8% by December 31, 2009.

SOURCE: National Association for Business Economics  

Jobs For Youth

Jobs For Youth (JFY) has made it their business to help many of Chicago's young people find employment. JFY has implemented a program to help the unemployed prepare to become a vital part of the economic mainstream. More than 70% of people assisted by JFY are African-American or Hispanic, and the majority do not have a high school diploma.

Applicants-who must be between 17 and 24 years old-are assessed and enrolled in a career development program. JFY offers training and workshops on topics such as computers, financial responsibility, career planning, and workplace coun­seling. It also helps applicants with issues including transportation , daycare, and a choosing a suitable business wardrobe. Applicants without a high school degree can enroll in JFYs adult basic education or GED classes free of charge.

Since 1979, JFY has successfully placed qualified applicants in entry-level jobs at many of the city's businesses-ranging from retail stores to financial institutions. Besides helping disadvantaged youth attain a better future, JFY provides many business­es with a steady pool of enthusiastic and skilled workers.

For more information, contact Jobs For Youth/Chicago, Inc.,
17  North  State  Street,  Sixth  Floor,  Chicago,  IL 60602, Tel: 312-499-4778, Fax: 312-499-4772, www.jfychicago.org.
Other cities and towns offer similar programs. Contact your local government to learn more about available programs.

Upcoming Meetings

• YC Executive Committee Meeting: Tuesday March 10th 9:00am WIB Office

• WIB Executive Committee Meeting: Thursday March 12th 8:00am WIB Office

• SMHP Meeting: Monday March 23rd 3:00pm WIB Office
• WIB Board of Directors Meeting: Tuesday March 24th 8:00am WIB Office

• Youth Council and Graduation Rate Meeting: Tuesday March 31st 12:00pm WIB Office