Sep
21
Recession Over, but Troubles Remain on Slow Road to Recovery
Posted in: UncategorizedCHICAGO (AdAge.com) –The National Bureau of Economic Research, arbiter of business cycle dates, on Sept. 20 ruled the recession that began in December 2007 had officially ended in June 2009. The pronouncement wasn't a huge surprise, as many economists long ago concluded that the recession ended sometime in third-quarter 2009. The U.S. unemployment rate was 5.0% when the recession began and 9.5% when it ended. The unemployment rate now, more than a year into the economic recovery: 9.6%.
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