October 3, 2022

Recession Ends But Nobody Really Notices

Keeping an Eye on the Economy

Keeping an Eye on the Economy

It’s finally over.

At least, technically, it’s over.

According to the National Bureau of Economic Research, the lengthiest economic recession since the days of the Great Depression came to an end over a year ago.

The latest recession started in December 2007 and officially ended in June 2009 according to the economic research firm.

What it really means is that the economy has turned around after reaching a trough, or bottom point. It is now in a period of economic expansion. However, the question remains, how sturdy is the expansion? There is still a fear that there could be a very slow period of economic expansion or, possibly, another downturn.

The National Bureau of Economic Research reports that it selected the 2009 end-date based on various data, including the nation’s gross domestic product, employment figures and personal income data.

Of course, simply since the recession technically ended 15 months ago does not indicate that the economy is in good health. There is quite a bit of conflicting evidence.

As examples, home sales in July dropped to the lowest level since 15 months ago while the latest Census figures indicate over 43 million US residents currently live below the poverty poverty line.. In addition, unemployment figures in August climbed to 9.6 percent.

Business optimism remains quite low, consumers continue to be cautious, and there is quite a bit of uncertainty about the economic policies emanating from Washington.

So even though the recession is supposedly “over” there are still many factors that explain why so many families continue to find that they are still battling to make ends meet.