Recession Havoc

LCT Magazine
Posted on November 6, 2009
QUESTION: With the news today that the national unemployment rate has reached an Obamanable 10.2%, I must ask why news reports mention a recovery underway? Point for businesspeople to ponder: The official beginning of this recession has been declared as December 2007 when job losses started but GDP was still growing; yet now we are told the recession is over because GDP is growing again despite continuing job losses. You don't have to be an economist to understand that as long as workers are losing jobs, it's still a walking-talking-quacking-waddling-lagging duck of a recession. So next month will be the two-year mark. When the unemployment rate declines, then that should be the official end of the recession. Someone please tell the experts. -- M.R.

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