Is The Recession Really Over? For Many Americans, It Isn’t
September 20, 2010
US (ChattahBox Economic News) – The National Bureau of Economic Research announced today that the recession that began in December 2007 ended in June 2009. But that doesn’t mean that the rest of America won’t likely continue to feel the strain as we struggle to recover.
The NBER is well known for taking months to years to make a decision on the state of the economy. The non-partisan research group prefers to collect all data on the current patterns before announcing a change in the market, and it took them a long while to announce the recession in the first place.
Now, they say, it is over. But recovery is slow and it will likely be some time before the average American family begins to see a change in their daily lives and financial health.
But they have warned that a fresh recession is possible, and that the negative outlook on the current economy shows that we are fragile enough to slip once again.
Still, tentative steps are being made, and so we can hold out hope.