“Everybody agrees that the recession is over”

[Dengineer]

Summers: Job Growth By Spring - George's Bottom Line

Summers said that “everybody agrees that the recession is over,” but he did not say when the unemployment rate could be expected to drop further.

Is this optimism, or a big load of BS? Anyone out there think the recession is over?

Personally, I think the recession has barely begun, but then I'm a negative, pessimistic troublemaker...

[momof4inmi]

I must be a negative, pessimistic troublemaker as well because I agree with you. I think that sadly we haven't seen the worst of it.

[434Teresa]

it dont look like it here..there are more and more places laying people off..and no one calling them back to work..

and so many people have asked for christmas help they have put signs up saying that they can not help anyone else with christmas gifts this year in a few places here in town that usually offer it..

[mama22qts]

Well, jobs are normally a lagging indicator. So it's possible that they are not showing growth because we haven't allowed enough time for that to happen.

I'd like to think it's over, but I really believe that the economy has been completely artificially stimulated, and that all the cash for clunkers thing and the homebuyers credit have done is borrow from sales that would have taken place at a later time. They haven't increased sales -- they've just moved them around.

So I think we are headed for another dip...and until we allow the market to recover on its own without government intervention, we'll either stagnate or regress.

[NIGHTB1022]

The only reason the unemployment rate is dropping is because so many people are out of unemployment benefits and now are not being counted.

[taylordvd]

I don't think the recession is over, but I do know that they are busy where my husband works. They did all their layoffs before everyone else did - over a year ago. They recently hired six temporary workers just to keep up with orders. But, they are also shutting down another plant, not in the US. DH is so busy, he is having trouble keeping up with all his projects. On the other hand, I'm back in school and there seem to be way too many people in the 45-55 age range in my class that are unemployed with little chance of finding a job any time soon.

[Merczilla]

The only reason the unemployment rate is dropping is because so many people are out of unemployment benefits and now are not being counted.

Yup. They always neglect that part. They're just feeding us a load of hooey. I fully expect higher taxes (of all kinds...federal, local and state) and martial law at some point. We're damn near there already. There are way too many naive sheep in this country believing all the propaganda they're feeding us.

[mama22qts]

Martial Law??

[kval07]

Martial Law??

Yeah, that's a bit much, lol.

I'm pretty sure most of us here in MI would say the recession isn't over.

[CW&M Mom]

The only reason the unemployment rate is dropping is because so many people are out of unemployment benefits and now are not being counted.

yes this......

over my a$$.


I'm thinking when I can have a conversation with 10 different people a day...and not one of them mention they are laid off...or there spouse is laid off...that then the recession is over.

The job market here is sucking worse than even last year when it hemmoraged.