Bernanke: Recession’s ‘very likely over,’ yet jobs remain unstable

But the Fed chief warns that the job market will continue to be weak for some time.

By Neil Irwin

The recession is “very likely over,” Federal Reserve Chairman Ben S. Bernanke said Tuesday, but the job market is likely to remain weak for some time.

Taking questions following a speech at the Brookings Institution, Bernanke gave his most explicit endorsement yet to the idea that the economy bottomed out sometime this summer and has begun growing again, at least as measured by gross domestic product.

“Even though from a technical perspective the recession is very likely over at this point, it’s still going to feel like a very weak economy for some time, as many people will still find that their job security and their employment status is not what they wish it was,” Bernanke said.

Read More at LATimes.com/business

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