Economist sees employment recovery by second half of 2011:

An economist who predicted the housing crisis says he sees signs of recovery and expects a pickup in employment by the second half of next year. He cites an increase in commercial and industrial bank lending, which should help small businesses get more credit. "My overwhelming condition for things to get better in the small-business sector is credit, so the positive data are a hugely exciting development," said Ian Shepherdson of High Frequency Economics.

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