U.S. recession ended June 2009, NBER finds

18-month downturn was longest since end of World War Two

WASHINGTON (MarketWatch) -- The U.S. recession that started in December 2007 ended in June 2009, according to the group charged with deciding when recessions begin and end. The National Bureau of Economic Research said the economy bottomed out in June 2009, followed by a slow expansion. The group said the 18-month recession was the longest since the end of World War Two, outlasting a pair of 16-month slumps in 1973-75 and 1981-82. Yet the NBER also cautioned that its findings bear no relation to the current state of the economy or represent a forecast about the future. If another downturn occurs in the near future, the NBER said, it would constitute a separate recession.

NBER Statement....

Here we go...

OK so who are they trying to kid here? We still have huge unemployment. A runaway deficit and we have our military spread through out the world. We voted for change, that's about all I have left when I stick my hand in my pocket these days, Is change.

So the stimulus spending helped? Obama has done some good. I don't think the stimulus spending did as much as they claim. [If I'm wrong here please show me where I am]

Hows the economy where you live?

Hi Slayer ...
i have just posted a comment about this in here:
Economic Armageddon: Ladies and Gentlemen, the Double Dip is Here!
i dont want to copy/double post my post...its long

we cant take this news seriously... its a strategy posting positives MSM propaganda news to the population
its like the war in Irak in 2003 when Bush said the mission was OVER

reply to post by Ben81



Thanks for the reply and link.
I'll check it out.

Originally posted by SLAYER69
reply to post by Ben81

 

Thanks for the reply and link.
I'll check it out.

lol we have posted it at the same time ahaahah
11:57
i though about creating a thread but finally retracted to make a post about it
THIS NEWS IS A LIE

Ended in 09.... Hum....

okay up here in SE Kansas this past weekend I took the wife into town to do her weekly shopping...
On the way home we passed one of those farm auctions... bank took it back from the owners, everything was out on the lawn, furniture, clothes, nick knacks, tractors and of course the farm itself was being bid on.... just like some surreal scene from a cheesy depression era novel...

Think someone should have told that bank and that family they didn't need to do all that... the Recession is over!

Whoot...the recession is over...and has been over for over a year

hmm

Definitions of recession on the Web:

the state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year

This must be the "old" definition of a recession...because employment is at a absolute dismal place.

Oh...it ended in june of 2009.

didn't say what happened then....did we enter a depression?

grrr...all for optimistic outlook mind you, but delusional spin is not going to help the problem. if our words for such things fail so poorly towards the average citizen...then words like recession are meaningless to the citizens as a whole.

I think first and foremost, a recession should be determined by unemployment rate and poverty verses middle class stats....I dont care if the stock market falls to 3 digits total...if almost everyone has a job and making ends meet comfortably, I would say we are booming no matter what the ticker says.

Yea I read this as well. To be fair, it usually takes quite awhile before the majority of people start to feel the change in the economy. It always has in the past. I know personally, my business was evicerated by the economic collapse so I've been looking for work for almost 18mos now. Only over the last 2mos have I been getting any activity of my job search. I had 4 calls from recruiters just this morning alone. 6mos ago I'd be lucky to get a single call in a month. So change is in the wind. But it's the big companies that are going to start moving forst and it will slowly make its way down the food chain. Of course things are extremely delicate right now. It wouldn't take much to completely derail any economic stabilization.

If you've lived through previous recessions you'll know that things can never happen fast enough as far as jobs and recovery goes. It takes time but things do start getting better.

Unemployment is still terrible, places aren't hiring in droves, roommate is getting Leave WithOut Pay regularly at the factory she works at and at least in my area the housing market is still terrible. Lots of houses and store-fronts in my area have sale/lease signs up in the windows and no buyers so I don't buy the line that its all over with now, in fact. This isn't the first time somebody has claimed we are in the clear and bad times are behind us, check out this Newsweek cover from last year:

www.ritholtz.com...

I didn't buy the nonsense then, and I'm actually less inclined to believe it when it comes from a pack of lying shysters known for manipulating data to their own ends.

reply to post by DaddyBare


Yeah Daddybare I've seen the auctions too where I live presently.
Sad when families who have worked their farms for generations get the eviction notices.

Well of course the recession has ended.

That's because we're in a depression.

Originally posted by unityemissions
Well of course the recession has ended.

That's because we're in a depression.

Best reply yet

here is a group that hasn't made it into the statistics as of yet. The small business owner who hasn't closed up shop just yet. I know of these elusive beasts as I happen to be one. My income is less than half of what is was when things were decent. My bills didn't change just because my income went down. I wonder how many more are like me and haven't even been considered into the unemployment figures. The recession is over when small businesses start to build new locations. Until then, it's all just smoke and mirrors. Oh, and a lot of Bullshot.

Originally posted by network dude
The recession is over when small businesses start to build new locations. Until then, it's all just smoke and mirrors. Oh, and a lot of Bullshot.

Building new locations requires more capital.
How about this, filling up all the new and present VACANCIES?

reply to post by SLAYER69


Rural America took a harder hit then most metropolitans...
here are just a few stats for 2010

Jobs in Time of Recession

Both nonmetro and metro areas lost jobs throughout 2008 and 2009. In the first quarter of 2010, however, employment appears to have stabilized.

• Based on preliminary Local Area Unemployment Statistics (LAUS) data, the number of employed people in nonmetro areas fell by 4.9 percent from the fourth quarter of 2007 (the beginning of the recession) to the first quarter of 2010. Employment fell by 5.0 percent in metro areas.

• Preliminary LAUS data for the first quarter of 2010 show slight negative employment changes for both nonmetro and metro areas. This is the fourth quarter in a row that the pace of job loss has slowed.

• Manufacturing lost an estimated 642,000 jobs in nonmetro counties over this period, a decrease of 19.3 percent. (By comparison, metro counties lost 2.2 million manufacturing jobs over the same period, a change of 16.3 percent.) Manufacturing now employs fewer people in nonmetro areas than does wholesale and retail trade.

• Manufacturing lost an estimated 642,000 jobs in nonmetro counties over this period, a decrease of 19.3 percent. (By comparison, metro counties lost 2.2 million manufacturing jobs over the same period, a change of 16.3 percent.) Manufacturing now employs fewer people in nonmetro areas than does wholesale and retail trade.

• Nonmetro employment in construction fell by 371,000 over this period, a decrease of 19.0 percent. (For metro counties, the decline was 21.1 percent or 2.1 million jobs.)

Link to Source and more on Rural American hardships

reply to post by DaddyBare


Well I highly doubt our manufacturing sector will recover as quickly and as strongly as it has in the past. We Americans are addicted to cheap Chinese and others made products from abroad and Wal-Mart but that should be the topic of another thread.

Originally posted by Helig
www.ritholtz.com...

I didn't buy the nonsense then, and I'm actually less inclined to believe it when it comes from a pack of lying shysters known for manipulating data to their own ends.

Spin spin spin.

I think TPTB seriously think we are a bunch of morons. Anybody with half a brain can simply take a walk down anywhere main street USA and see how many shops are closed.

Originally posted by SLAYER69

Originally posted by network dude
The recession is over when small businesses start to build new locations. Until then, it's all just smoke and mirrors. Oh, and a lot of Bullshot.

Building new locations requires more capital.
How about this, filling up all the new and present VACANCIES?

that is my point. Filling up the vacant properties will just get up back to zero. When they building boom hits, we will be out of trouble as far as I can see. I don't think it will happen overnight either. Time is the only cure for this disease. I could see the writing on the wall 6 months before it got bad. I think anyone in the service industry could. I just hope that it works the same when things get better.

reply to post by network dude


No offense meant to anyone in the service industry but...

They don't get paid squat in comparison to the jobs lost. The Middle class took a massive beating this time around. The Middle class was the backbone of the economy for the past 60 or so years.

There is no economy around where I live, I have not seen change neither do I expect to see any. All of our tax $$ gets funneled downstate to New York City. All the promises made throughout the years never materialized. Hilary's promises Obamas promises the Governor's promises all end up channeled downstate. But hey now we have Yahoo that just opened 100 jobs to the area, too bad they are all I.T. jobs not for the common worker. So the recession is alive and kickin here!!! It's to the point here that the city has resorted to cutting down half a tree that got damaged in a wind storm leaving the rest to sit for the last 6 months, refuse to fix the heaved sidewalks claiming it's now the homeowners responsibility, and have no interest in replacing signs that have been damaged over the years, stop signs that are missing, that kind of thing. Condemned houses left to rot while houses that should be condemned people are left to live in with no building code violations enforced yet assessment's next to these dumps keep going up!! Closing schools down then buying 30 Ipad's for the new school that took all the old school kids. I can only imagine what this winter will bring....