Hey! The Recession is Over!!!!!

Thank goodness! That was whole recession thing sure was getting old!

http://www.comcast.net/articles/finance/20100920/US.End.of.Recession/

Economic panel says recession ended in June 2009
By JEANNINE AVERSA, AP

WASHINGTON — The longest recession the country has endured since World War II ended in June 2009, a group that dates the beginning and end of recessions declared Monday.
The National Bureau of Economic Research, a panel of academic economists based in Cambridge, Mass., said the recession lasted 18 months. It started in December 2007 and ended in June 2009. Previously the longest postwar downturns were those in 1973-1975 and in 1981-1982. Both of those lasted 16 months.
The decision makes official what many economists have believed for some time, that the recession ended in the summer of 2009. The economy started growing again in the July-to-September quarter of 2009, after a record four straight quarters of declines. Thus, the April-to-June quarter of 2009, marked the last quarter when the economy was shrinking. At that time, it contracted just 0.7 percent, after suffering through much deeper declines. That factored into the NBER's decision to pinpoint the end of the recession in June.
Any future downturn in the economy would now mark the start of a new recession, not the continuation of the December 2007 recession, NBER said. That's important because if the economy starts shrinking again, it could mark the onset of a "double-dip" recession. For many economists, the last time that happened was in 1981-82.
To make its determination, the NBER looks at figures that make up the nation's gross domestic product, which measures the total value of goods and services produced within the United States. It also reviews incomes, employment and industrial activity.

Cont’ed…

 

So our "Summer of Recovery" was a success after all? Funny, doesn't really feel like it.

 

This more or less sums up my opinion of it;

 

Dont many continue to struggle even when things are going well? Granted not as many. But that doesnt relieve those who are.

 

Jobs are ALWAYS the last indicator to recover during any recession. That isn't likely to change any time soon. Many of the jobs lost are in industries that will never recover to the levels they oncve were. We need to create new industries that are hopefully built on a green revolution.

 

I think that old recession may have been over back then but there has ceratinly been another one come along & replace it.

Just wondering about timing here.....the last recession was supposed to have began in Dec '07? What else had just happened at that time?

 

Not even close ! The BLS uses another formula to look at real job numbers .The Government prefers not to use the U-6 report.
It runs about 50% up from what we are told, or right near the European Union stats.
Say CA is at 12% at U-6 numbers it is more like 18% . Numbers do not lie, liars use numbers of their choice.
Pep

 

You say its more like 18%. But thats not quite accurate is it? '' More like'' sounds like a guesstimate. So it seems you are using a number of your choice.

 

I would suggest you go to the BLS and look up U-6 numbers for all states. Satisfaction is important .

 

Interesting.

Looking at the U6 definition, it looks like it includes people who are now working part time instead of full time and people who have looked for work in the last year and say they want to work but are not currently looking. It is basically the largest possible pool of people who may be affected by the economy.

The official unemployment stat (U3) doesn't include the former and only includes a subset of the latter.

http://www.bls.gov/news.release/empsit.t15.htm

 

The problem is that employment is a gradient rather than a black and white number. If you want to include every shade, the number goes up. If you want to try and grab just the meat of the number and ignore the shaded areas, you get a smaller number.

If you're anti-administration then you go for the bigger number. If you're looking to make the numbers as rosy as possible, you go for the smaller number. Both are just as valid assessments. It's just a matter of picking the one that best addresses your own biases.

 

Well put and I totally agree.

 

It is like the PPI & the CPI they contain not enough of what is being consumed by consumers or o producers.
This is used to do what ? Control the amount of Social Security payments and control COLA raises in other retirement & disability programs.
It also produces lower numbers on inflation in general and is used as a political ploy.
No one is trying to make one side look better or worse, they do that by themselves. If you are an American and being screwed it matters not what party you belong to, you will be had.....if you say nothing.
Large Government is dangerous. Tyranny is when the people fear the government, When the government fear the people that is freedom. Thomas Jefferson

 

Why not draw a line in the middle and say Ca for instance is at 15+ % unemployment.Not good for anyone.
Bias and unemployment do not fit in the same category.Bias and lies do !

 

Large corporations and their control is MUCH safer I'm sure.

 

This is PROPAGANDA .

 

Top 10 signs to know when the recession is really over.

http://www.walletpop.com/blog/2010/09/24/youll-know-the-recession-is-over-when/