|
|
|
|
Joined: Jun 2003
Posts: 15,796 Likes: 40
Fair Play! 15000+ posts
|
OP
Fair Play! 15000+ posts
Joined: Jun 2003
Posts: 15,796 Likes: 40 |
It's official: Recession since Dec. '07
The National Bureau of Economic Research declares what most Americans already knew: the downturn has been going on for some time.
NEW YORK (CNNMoney.com) -- The National Bureau of Economic Research said Monday that the U.S. has been in a recession since December 2007, making official what most Americans have already believed about the state of the economy .
The NBER is a private group of leading economists charged with dating the start and end of economic downturns. It typically takes a long time after the start of a recession to declare its start because of the need to look at final readings of various economic measures.
The NBER said that the deterioration in the labor market throughout 2008 was one key reason why it decided to state that the recession began last year.
Employers have trimmed payrolls by 1.2 million jobs in the first 10 months of this year. On Friday, economists are predicting the government will report a loss of another 325,000 jobs for November.
The NBER also looks at real personal income, industrial production as well as wholesale and retail sales. All those measures reached a peak between November 2007 and June 2008, the NBER said.
In addition, the NBER also considers the gross domestic product, which is the reading most typically associated with a recession in the general public.
Many people erroneously believe that a recession is defined by two consecutive quarters of economic activity declining. That has yet to take place during this recession.
...
Fair play!
|
|
|
|
|
Joined: Oct 2000
Posts: 53,734
Educator to comprehension impaired (JLA, that is you) 50000+ posts
|
|
Educator to comprehension impaired (JLA, that is you) 50000+ posts
Joined: Oct 2000
Posts: 53,734 |
|
|
|
|
|
Joined: Feb 2002
Posts: 19,428 Likes: 8
brother from another mother 15000+ posts
|
|
brother from another mother 15000+ posts
Joined: Feb 2002
Posts: 19,428 Likes: 8 |
Well somebody told us wall street fell
But we were so poor that we couldnt tell.
Cotton was short and the weeds were tall
But mr. Obama's gonna save us all.
|
|
|
|
|
Joined: Jan 2002
Posts: 15,230 Likes: 1
Banned from the DCMBs since 2002. 15000+ posts
|
|
Banned from the DCMBs since 2002. 15000+ posts
Joined: Jan 2002
Posts: 15,230 Likes: 1 |
No recession here! Although we are finding it much easier to hire people because they're all coming home from the UK.
|
|
|
|
|
Joined: Jun 2003
Posts: 15,796 Likes: 40
Fair Play! 15000+ posts
|
|
OP
Fair Play! 15000+ posts
Joined: Jun 2003
Posts: 15,796 Likes: 40 |
I remember when we use to have trouble finding people to fill jobs 
Fair play!
|
|
|
|
|
Joined: Oct 2000
Posts: 53,734
Educator to comprehension impaired (JLA, that is you) 50000+ posts
|
|
Educator to comprehension impaired (JLA, that is you) 50000+ posts
Joined: Oct 2000
Posts: 53,734 |
|
|
|
|
|
Joined: Dec 2008
Posts: 205
Headliner 200+ posts
|
|
Headliner 200+ posts
Joined: Dec 2008
Posts: 205 |
I don't know what your problem is, but I'll bet it's hard to pronounce.
|
|
|
|
|
Joined: May 2003
Posts: 2,289
2000+ posts
|
|
2000+ posts
Joined: May 2003
Posts: 2,289 |
No recession here! Although we are finding it much easier to hire people because they're all coming home from the UK. Shit! Then who's gonna serve me in all the pubs in London????????
|
|
|
|
|
|
|
