According to the BusinessInsider, that's where UBS now expects unemployment to fall to in the by the end of this year and next.
In a fresh note out this week, UBS' economics team lead by Maury N. Harris offered a very sunny assessment for the labor situation in the US, with predictions of solid surprises for quite awhile to come. Key to their argument is a proprietary model of theirs which blends total loan volume, bank easing standards, and growth in loan demand.
All of these indicators are getting better, and therefore the job creation engine is going to continue to rev up, at a pass of 200K per month for 2012. (Need we mention whose re-election campaign will get a huge boost from this?)
Read more: http://www.businessinsider.com/ubs-the-plunging-unemployment-rate-is-going-to-keep-surprising-people-this-year-and-next-2012-2
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