UI economist says housing market could offer relief for those out of work
A University of Illinois economist said the high unemployment rate is coming down painfully slow, but he's looking to the housing market to help people who are out of work.
Fred Giertz said it's hard to tell how long it will take the unemployment rate to go down because it's not clear what's keeping the rate so high.
But, Giertz added that the housing market is doing well, which he said is a bright spot for people who don't have a wide range of skills.
Giertz made the comments Tuesday on "On the Money" on WDWS.