In economic news, the unemployment rate for youths reached a record 19.1 percent last month. According to the US Bureau of Labor Statistics, it was the highest midsummer jobless rate for 16-to-24-year-olds since record keeping began in 1948. The youth unemployment rate has nearly doubled over the past two years. Meanwhile, a prominent economist from the University of Maryland is warning the US economy could experience painfully slow growth and high unemployment for another decade or longer as a result of the economic crisis and the collapse of the housing market. Economist Carmen Reinhart made the comment at a recent symposium in Wyoming organized by the Federal Reserve Bank of Kansas City.