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Unemployment could stay high as US economy slows

High unemployment isn't going away not as long as the economy grows as slowly as it did in the April-June quarter.

By Martin Crustsinger | Updated on July 27, 2012

WASHINGTON (AP) — High unemployment isn’t going away — not as long as the economy grows as slowly as it did in the April-June quarter.

Weak consumer spending held growth to an annual rate of just 1.5 percent, even less than the 2 percent rate in the first quarter. And few expect the economy to accelerate in the second half of the year as Europe’s financial woes and a U.S. budget crisis restrain businesses and consumers.

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