By Daily Crux Editor Justin Brill:

If you think the worst is over in the job markets, NYU economist and noted bear Nouriel Roubini says think again... things are bad and getting worse.

He says while the official unemployment rate is 10.2%, if you include discouraged and partially employed workers - typical of how unemployment was calculated in the past - the actual rate is 17.5%, and we're still losing 200,000 jobs each month. This is better than the 700,000 jobs lost in January, but still way above the average loss in the last recession.

The consensus seems to be that the recession has ened, but Roubini notes that job losses typically continue for more than a year and half after the end of a recession. This would mean job losses will continue until the end of next year at the earliest. He expects unemployment to hit 11% and stay there for two years or more.

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