The claim is that the worst recession since the Great Depression has ended. A survey of 44 professional forecasters released by the National Association for Business Economics (NABE), found that 80 percent of the respondents believed the economy was growing again after four straight quarters of declines. Wow, great news! I'm glad this was reported in the news, otherwise, I wouldn't have known. I gotta tell you, I look around and I don't see much happening that supports that claim.
According to the Bureau of Labor Statistics, since the start of the recession in December 2007, the number of unemployed persons has increased by 7.6 million to 15.1 million, and the unemployment rate has doubled to 9.8 percent.
This number doesn't include all those people no longer looking for work. The actual number of people who aren't working is closer to 1 in 5 - 20%! And unemployment data continues to trend up.
So I say keep your good news to yourself until you know what you're talking about. This recession may be over to the politicians, but it's still strong out here for the working folks - unless, I guess, you live in Detroit and were able to get some of the stimulus money from Uncle Barack!
Wake Up America!
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