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During my "This Week" interview, 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.
The unemployment rate dipped last month to 10 percent from a peak of 10.2 percent. Many private economists, like Moody’s Mark Zandi, predict unemployment will climb through the third quarter of next year to 10.6 percent.
Politico: Asked by moderator David Gregory if the recession were over, [White House economic adviser Christina] Romer shot back: "Of course not. For the people on Main Street and throughout this country, they are still suffering, the unemployment rate is still 10 percent."