Great article. Yes, the recession has been over for quite sometime BUT “some” media outlets would have you believe it’s the end of the world. Ugh. As much as consumer spending is up a hair, unemployment seems to be lagging. Unemployment will be relative from now on – it’s simple math. Read this article.
By CATHERINE RAMPELL
The United States economy has lost more jobs than it has added since the recovery began over a year ago.
Yes, you read that correctly.
The downturn officially ended, and the recovery officially began, in June 2009, according to an announcement Monday by the official arbiter of economic turning points. Since that point, total output — the amount of goods and services produced by the United States — has increased, as have many other measures of economic activity.
But nonfarm payrolls are still down 329,000 from their level at the recession’s official end 15 months ago, and the slow growth in recent months means that the unemployed still have a long slog ahead.
Read more at NYTimes.com