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Slowly Regaining Ground Lost
Jan 12, 2010 (04:01 PM EST)
CHICAGO, Jan. 12 /PRNewswire/ -- "The risk of a misstep in the economy this year is particularly high, given the costs associated with standing still, let alone moving backward. Unemployment is still too high, and the erosion in our growth potential too great to even imagine. Add to that the fact that the current recovery has been less than stellar -- especially when it comes to creating jobs -- and it is no wonder that the euphoria we are seeing on Wall Street has yet to reach Main Street. In fact, firing continued to outpace hiring by more than 80,000 in December," says Diane Swonk, chief economist of Mesirow Financial, in her January issue of http://www.mesirowfinancial.com/economics/swonk/themes/themes_0110.pdf located at:
In her January newsletter, Swonk takes a closer look at business cycle dynamics and why the economy still feels so bad, even though we are a good six months into a recovery. Separately, she discusses the implications for employment, monetary policy and fallout for financial markets:
"The recovery that started in mid-2009 is expected to persist into 2010, albeit at a somewhat subdued pace. Those gains will not be enough to lift as many people out of unemployment as we would like, but it is a start, and with every new beginning there is still hope -- hope for better times down the road, and hope that I am wrong. I would gladly accept a much stronger recovery and larger rebound in employment than I have forecast," concludes Swonk.
The January issue of mesirowfinancial.com as well as archived issues can be found at .
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Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, it is an independent, employee-owned firm with more than $30 billion in assets under management and 1,200 employees in locations across the country and in London. With expertise in Investment Management, Investment Services, Insurance Services, Investment Banking, Consulting and Real Estate, Mesirow Financial strives to meet the financial needs of institutions, public sector entities, corporations and individuals. For more information about Mesirow Financial, visit its Web site at mesirowfinancial.com .
CONTACT: Diane Swonk, +1-312-595-7122, or David Nice, +1-312-595-7125,both of Mesirow Financial
Web site: http://www.mesirowfinancial.com/