Portions of the livestock sector could return to profitability this year, but all of animal agriculture will continue to face ongoing economic, export and demand challenges as the country faces a “slow and uncertain” economic recovery, according to AgriBank chef economist James Kielkopf, who spoke Friday at the 2010 Strategic Animal Ag Conference in Willmar.
Unemployment will remain high in the U.S., he said, for up to a decade. Economic analysts are projecting 10% unemployment this year and 7% unemployment in 2015.
In comparison, unemployment was as high as 25% during the Great Depression, Kielkopf said. Famous photographs from the era show people forming long lines at soup kitchens and as migrant workers living in tents.
To read the entire article, link here.