The Great Recession is Over?
Posted by: Darin Manis in Untagged on
Oct 12, 2009
A survey done by the National Association of Business Economists (NABE) found that 80% of the 44 professional forecasters believed the economy is growing again. The economy has suffered four straight quarters of decline. The NABE President stated, “The great recession is over.”
The great recession began in December of 2007 and the length and depth has been the worse recession of a lifetime for anyone born after the 1930s.
The unemployment rate is expected to continue to rise to 10% and still be at 9.5% by the end of 2010. This will slow any recovery considering that the true unemployment rate will remain at about 17% through at least the end of 2010.
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