Do you feel like recession is over?
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FROM CNN's Jack Cafferty:
It's unlikely there were all that many champagne corks popping across the country when we learned this week that the recession officially ended more than a year ago.
And maybe that's because it doesn't feel like the recession has ended…not at all.
A new Gallup Poll shows that 88 percent of those surveyed say now is a "bad time" to find a quality job.
That number is as high as it was one year ago... and higher than it was at this time in 2008, when the recession was under way. Only 55 percent felt this way in 2007, before the recession started.
The bottom line is Americans are waiting for the jobs to come back. It may be a very long wait, and, in fact, a lot of the lost jobs will never come back.
The national unemployment rate is 9.6 percent, and there are no signs it's going to improve significantly for a while. Since the recession started - more than seven million jobs have been lost. Almost two and a half million homes have been repossessed.
But the National Bureau of Economic Research says the recession, which began in December of 2007, ended in June of 2009. This makes the 18-month long recession the longest and deepest downturn since the Great Depression.
Add in weak economic data in the past few months and concerns about a possible double dip recession are growing.
According to CNNMoney.com, a group of top economists say there's a 25 percent risk of a double dip recession in the next year. That's up from a 15 percent chance just six months ago.
Here’s my question to you: Do you feel like the recession is over?
Interested to know which ones made it on air?
Stan in Arizona writes:
The recession will deepen before it recovers. When will it recover? My gut tells me we are in for another 10 years of "recovery". People from all walks of life are losing their homes, can't find work, and are selling everything they can. I live in a well-to-do part of Phoenix. People daily are making pet care decisions based on finances rather than medicine. I am a veterinarian.
Don in Nevada writes:
It is not over, but you are also asking the wrong question. For some, it will never be over, because we are witnessing a great divide right now. The middle class is getting wiped out.
Virginia in California writes:
The recession is over? Where? We are at 12% unemployment here. I've been out of work for just a little over 2 years. Where can I move to? Never mind I can't afford to move.
Linda writes:
Yup. Last year was very bad, but this year our business is operating at the same level we peaked at in 2008. I was able to hire back the people we had to let go.
Chris writes:
No, the recession is not over. Unemployment is still through the roof. I just learned today that my health insurance premiums will go up by $100 a month next year. So, not only are there no good jobs, I just took a pay cut. The country is in terrible financial shape and we elect a President that spends money like Paris Hilton.
David in Omaha, Nebraska writes:
I feel like the recession is over, because it is. The economy ceased receding over a year ago; now we have to change some things so it will start growing again. President Obama is taking too much flak for this issue unfairly: he did indeed stop the recession. Give Obama some credit for pulling off a tough feat.
B. writes:
How can you feel if the recession is over? It's a defined term. You're asking whether or not I feel like one plus one is two. Maybe I feel like it's three today. A better question would be, "Since the recession ended, how are you feeling about your financial situation?"
@jackcafferty on Twitter
I had to laugh when I heard the recession ended in June of 2009. My sister is a small business owner and her business has not recovered. In fact, it has gotten worse. She is in construction in Las Vegas. Also, the national unemployment rate is 9.6 percent. Here is Las Vegas, it is well of 14% and that doesn't count the people who have given up and moved away.
So no, I think the recession is not over. I think someone is playing games right before the election. I wonder who?
Unless you lost a job and didn't find another one,WHAT RECESSION?
I luckily still have my job.
Who knew? I didn't realize that all of my out of work friends were just pulling my leg. And all of those businesses I call on without money are just fibbing as well. While technically we may be out of the recession because we've had growth in two quarters or whatever the rule is. However, the unemployment rate is still very high, so until that starts to really come down, it's a tough sell that the recession is over.
i have more reserve and national guard soldiers volunteering for active duty tours because there are no jobs available.
i have young and not-so-young from all 50 states who want to take tours in the U.S. (their local areas first) but also mark the "any theater, any region" box.
seems to me that if the recession were over, there would be more jobs out there, not just potential employees.
and while we are talking about the recession, what is this crap about paying the unemployed their unemployment check and letting the employer get away with paying "training wages" at less than the minimum wage?
that just leaves the door open to exploit "undocumented" aliens by making a smoke-screen of low paid wages.
-TheBigSarge
I don't feel like the economic problems are over, but I feel like the collapse has been reversed. I don't think the President's efforts are what is making the recovery slow, I fault one of our parties for slowing progress as much as they can so they can win an election.
I live in Texas and though things have been hard here they have been much better than most of the nation. Though unemployment has been higher than normal here it is not exceedingly high now and in practical terms there are no major indications of a serious recession and there have not been since last year.
Our governor and Congress will be quick to tout their brilliant leadership but IMHO the lionshare of the credit goes to the regulatory aspects of the Texas constitution. Two aspects specifically:
* The constitution has always put severe restrictions on mortgage lending. Thus Texas largely avoided the housing bubble that plagued the rest of the nation.
* The constitution limits the government's ability to grow and spend. Thus Texas has avoided the debt crisis that has plagued California and the federal government.
I believe that overhauling federal legislation to learn from Texas' experience could be very beneficial for the whole nation.
I make good money as work from home psychiatrist. Dr. Timothy Liptsvitch. I show you how!
No! I was just hired 3-weeks ago after being unemployed for 16 months. I went from making $66K, to $45, to $37K in the past 2 years after layoffs.
This is the worst economy for jobs I have ever in my 57 Yrs felt and seen.
Thank you.
No, not by a long shot.
I don't think we will see an end to the recession. I think we will go into a Depression, if people cannot get cheap credit. Too long people relied upon the Cash Cow- their homes. America is starting to realize, without a good education and a job, they will fall into a bottomless pit. With more and more people retiring, that can, it will be a tremendous drain on the already strained system. Unemployment and under employment are going to get worse, unless jobs can be created without government intervention. With fewer jobs and more people to support, we will tailspin into a deeper Recession. True unemployment rate should include people who have given up on looking for jobs, and homeless. then, it would be more like 25-28%.
I've an income, so as long as gas prices are down I feel nothing. Nothing but compassion for the millions that are suffering without any income. Nothing from nothing leaves nothing. How the heck would I know? You are the media, you tell me. Are we in a recession or not? Please tell us WHOM said we were not in a recession and was this before or after confession?
The recession IS probably over, but what I think most people don't realize is that the current economy is the recovered economy. Housing may rebound a bit and employment will improve as compensation completes its downward adjustment, but this economy is the one we are going to be living with for a long time. The days of the US being and overwhelmingly dominant economy are over. We now get to compete on a much more level playing field with the other powers. Get used to it folks, it will be like this for a long time.
Those working in academia or someone who is fortunate to have a job working for the National Bureau of Economic Research or even better, someone who was elected to federal office have their answers while those of us who are currently unemployed desperately trying to provide for our family members, have ours'. I do hope for everyone the worst is behind us, if not, we should all adapt, overcome and persevere.
The recession wasn't a recession at all. It's a depression and we're still in it. There is currently no end in site from my perspective. Any job growth is anemic at best. I don't blame the President for this; it was a long time coming.
Not in our home, it isn't. Here it's a depression. Need an assistant, Jack? I can be cranky with the best of them.
I was laid off from a very good job in December of 2008 and have not been able to find another job. In fact I've only had about 3 or 4 interviews in all that time, despite sending out hundreds of resumes. I'm told that for every job listing, they get over 200 resumes. As far as I'm concerned, the recession is not over yet...
Jack,
I think what they mean is that the recession is over for the companies that were bailed out and the people that are connected to them in some way. Us little people way down here haven't seen any improvement to the economy as of yet. Maybe it is improving but we haven't noticed because we are still struggling to keep our families fed and a shelter over their heads.
I remember when Ross Perot described that giant sucking sound we would experience after NAFTA was signed. Well that sound is a lot quieter today as there is not much left to take from us. Many many of our jobs have left for good. I can only imagine that Wall Street will slow down soon too as there is no money left for them to take either. It will be interesting to see what the banks will do with all their new homes.
Recession Over....?? Kidding right!??!
My mother has been looking for a job for 3 months. Today she went to a local fast-food restaurant (whom I will not name for dignity sake). She asked if they were hiring or looking to hire soon. The manager's response back to her was, "....no, we're probably not going to hire until May." Today's date is Sep. 23rd! Yeah – recession over!??!
This is just after the ever "doom & gloom" media has been over-glorifing that fact that the recession was over back in June! Well if that's the case, the past 3 months have just been "booming" with economic promise.
If you believe that – I have a bridge I want to sell you! This is an election year. Isn't this a year where things are suppose to get done?
Not yet...
Jack: In the last two years I've lost my job, my dad, my apartment and my girlfriend. I've been living in a homeless shelter for almost thirty days now and I'm not sure what the future holds in store for me. Maybe the recession is over, but the damage has been done and I don't know how I will ever recover.
Im a salesman and people are not buying! only what they have to buy and only at much lower cost. My best year was 2008. 2009 was very bad and 2010 is almost as bad as 2009, nobody feels like they can spend one dime more than they have too because they still dont know if it will be their last dime. and for me, I have to pay down debt to buy anything else, and since my income is much less than it used to be, im paying down debt very slowly, i have to think Im not alone in this scenerio, its what we are all dealing with. too much debt and not enough income to pay it down. this will take a few more years to dig out of.
Considering that I have had difficulty finding a job for close to a year, and three of my friends in three different states in three different career fields were laied off or had there businesses close in the last week I'd have to say . . .
Hell no it's not over!.
The Recession is over? We have been in a Recession since 2000. When I no longer have to live pay check to pay check, then MY Recession will be over, not until.
There was a recession?
No, I do not feel it is over. Too many people looking for work they can't find, banks still won't make loans, everything I purchase costs more than it did before, insurance rates are soaring, housing is dismal...it's hard to believe the economists. Guess they don't live in the same world I do.
Lets say 100% of the people who respond say the recession is over.
So? How does that change anything? My income does not change nor does my expenses. An economic recession is just some vague economic concept which economists cannot agree on.
Well no as a matter of fact. Look in 07_08 when the economy was heading south even the best economists said it would be at least 5 yrs before we began to feel the turn around. Only a fool would believe that the President could turn it around in 19 mos.
No, I don't believe the recession is over, in fact I believe it's only beginning.
Why? Simply because we have allowed all of our basic industrial base to go offshore (this is why protective tariffs exist, to prevent this), plus we have sold our intellecutal rights to high-tech products to offshore producers. How dumb was this?
NO! But, please ask again in five years
I graduated from Notre Dame five years ago and currently live in Chicago.
I recently passed the Certified Public Accountant Exam and cannot find entry level work at a major public accounting firm.
One of the big firms seems interested but tells me after six months of waiting for the next hiring cycle that it may be another year if the economy continues to drag. All I hear is no one is hiring until things improve.
Let me see. My wife who has a Master's Degree in education and over 15 years of being a technical trainer has been out of a job for over a year. I am making 40% less that I was making 5 years ago. Do I feel the recession is over? Not even close. Maybe if I was so out of touch like our President, I would feel that it is. Unfortunately for me, I live in the real world where I can't send my wife on Air Force 1 to vacation in Spain or hop over to Martha's Vineyards for a weekend extravaganza.. In my world bills have to be paid, the family has to eat, kids have to go to school, and the mortgage has to be paid. Please someone have Big Ears Obama explain how this recession is over.
I understand that the economy lags behind projections but that does me and millions like me no good.
Jack, I dont feel there will ever be an end to recession, we've now developed into a nation running on the fumes of our better past, with one great idea to boost the market and jobs, and a great idea of yester-year losing steam dropping it even further, one step forward two steps back. There will need to be a change, not in government, not in the beuracracy, but in the American People to change their behavior, stop talking, and start doing. Not as a party, or race, or group, but together and in the right direction, now,
No. No. And, again, no. What's that word from the 70's. Malaise? Yes, we are in a malaise and a recession.
To say that the recession is over is insulting to those of us who are in the midst of it. Message to those who have stated this economic news: Take a long road trip throughout the United States.
One word "NO'
No, because it is not. Those idiots in their ivory tower who say the recession is technically over, are blind to what is happening. Times are tough. People are putting off buying big ticket items unless they have no other choice. I don't know of anyone who is so secure in their job that they don't have a current resume on hand and out to a few prime employers. And what might happen this November should the Republicans make good on their threat and take over the House? If and when that happens this recession will not just double dip, it'll tank so bad to make the great depression look like a walk in the park. People just don't get it. I can understand their frustrations, but to refuse to take part and vote the Democrats back into office is just asking for worse trouble. But then a rude awakening may be just what Obama needs to get reelected in 2012. As Republicans stonewall any and all improvements in the economy, as they kick the downtrodden, homeless, and unemployed, people will wake up and have no one to blame but themselves for putting the Republicans and their failed economics back in control.
NO!!! when Washington sends me and every family taken buy fraud a blank check that's when it will be over .
Baton Rouge, La.
I'm amazed that they can even find enough evidence to support such a ridiculous claim and still maintain some semblance of integrity.
It's udderly ridiculous. No play on words.
Definitely not over. And no real improvements will come soon until both Republicans and Democrats stop their infantile and partisan bickering, grow up and try to cooperate with one another and actually do some things that are good for the entire nation. Or maybe they just need to all be replaced in November. They are fiddling while Rome burns.
Yes, it ended last year. Where have you all been? The economy has been growing for a year now. Economies do not grow during recession.
My thought is this is government created propaganda to boost people into spending money. It is tied into the report about the housing market rising a little. Unfortunately, only the politicians who never experience money shortages are pushing this BS because the elections are coming soon. Nobody I know within my middle class neighborhood has any money to spend, because at least one person per household is out of work. Once jobs start returning, only then will the Nation begin to recover from the recession.
It's been a slow recovery for sure, but at least for the moment things seem to be improving. I run a small audio/video/web production business, and although we were dead-in-the-water last Spring, towards the end of this summer things started to pick up. I'm guardedly optimistic, but it could be that we see more of "two steps forward, one step back" while things continue to stabilize. It took several years for the economy to get as screwed up as it was, so it's unreasonable to expect things will recover in just a year or two.
Tom McCaffrey
Abington, PA
Recession, yes. Is the economy back to normal, definitely no. What we need is for the Republicans to join the rest of the country and start to try to build comsumer confidence! There negativity is hurting the economy. It is the least that they can do since they were extremely negilgent in the causes of the recession and have been 100% behind the corporate world and wall street. They apparently haven't acknowleged their part in the form of less regulations and their fight to prevent action to prevent similar situtations in the future. They seem to care more about corporate america than the people. Its too bad the right wing religious nuts, gun nuts can't see this through all their hatred .
I think the economy is slowly showing signs of recovering. I see construction on commercial sites that had ground to a halt nearly 3 years ago now re-started just this month. That's always a good sign. But I also think this recovery will take longer than any this country has ever seen, and I believe we can thank Obamanomics for that one.
Whether or not thte recession is over depends on where int USA you live and work.
I live and do business in Laredo, Texas. I felt the recession during the last quarter of 2009 and the first 4 months of 2010.
MY business has steadily improved beginning May, 2010, so the recession is over for me.
When industry leaders found out that the quickest way to maximize profits was to trade good-paying jobs held by regular folks for cheap labor abroad, they virtually guaranteed a recession in good ole US of A. How can regular folks support economic growth when they are now unemployed or working for minimal wages? No, the recession continues unabated.
Jack, I dont feel there will ever be an end to recession, we've now developed into a nation running on the fumes of our better past, with one great idea to boost the market and jobs, and a great idea of yester-year losing steam dropping it even further, one step forward two steps back. There will need to be a change, not in government, not in the beuracracy, but in the American People to change their behavior, stop talking, and start doing. Not as a party, or race, or group, but together and in the right direction, now.
Of course, it is! Just like "combat operations have ceased in Iraq"! Political PR spin – nonsense!
"Feelings" have nothing to do with it. A recession is a prolonged period of economic contraction. The economy resumed expansion last year and, by definition, the recession ended. End of discussion.
Of course the recession is over – it's a fact that the economy has been growing for well over a year after shrinking prior to that. We are still feeling the effects of the recession which last long after the recession has ended, particularly after such a severe recession.
It depends what part of the country you are in. There are some states that are barely holding their heads above water. Overall I think it is getting better. Now we just have to convince employers to hire. I think many companies learned how to work more efficiently after all the layoffs, now seeing their profits go up with less employees...I don't see the benefits of rehiring.
I do not feel that the recession is over at all. We have been trying to sell our home in Atlanta for more then 2 years now. Despite the fact that we are priced $48,000 under what we paid for it just 4 years ago, here it sits on the market. If there are no jobs, then no people are moving to the city and buying homes. People are just not buying out of fear of the economic future. We need jobs to be created and we need it now. Not just in Atlanta, but everywhere.
It will never end, this is the beginning of the end. Thank you RepubliCANTS.
The recessioon is worst than ever.THe so called experts should leave their leather chairs and bubble wrapped offices and
go down to main street and get a taste of realty
Yes. I went to Target yesterday and spent $500.00. That ought to do it.
No, Jack, I don't feel the recession is over, but I do feel that Election Season has begun and this announcement of an end to the "Great Recession" is simply a ploy to sway those constituents that pay more attention to the "The Situation" than the "The Situation Room". My Mom has been out of work since early 2007. I have numerous friends that have been out of work nearly as long, and my current employer has had 5+ layoffs in the last 3 years. Most recently a few months back where a very close friend of mine lost her job.
I will not have my reality dictated to me by some Administration "experts" with a vested interest in misleading people of the conditions we the people are living through just to gain some points in an approval rating. I can tell what is, and I can tell what isn't.
"Yes we can" has become "Hopefully we will, but I wouldn't hold my breath if I were you".
HA!
You're kidding, right? Please tell me you're kidding. NO! I don't feel like the recession is over! Not until we're out of Iraq entirely as well as Afghanistan do I think we can even begin to talk about STARTING to climb out of a recession.
The recession is never over in California. Legislature get your act together and sign a budget.
I teach business and management at the college level. While the recession may be over from a technical standpoint, from a PSYCHOLOGICAL perspective, it is far from over. All I have to do is talk to small business owners and my students to grasp the reality faced by many Americans. Would the politicians please end the pontificating! Bring on the November elections.
I am a California state employee. I feel that recession is not over yet. Thank you.
Are you kidding me? I think we're well into a depression. Anyone who thinks the recession is over is delusional. At least in my world.
I think the recession is coming to an end. My friends and I are not looking for anyone to hand us a job. We are creating business opportunities by being innovative and positive. Thanks President Obama for looking out for the small business.
As a college student I've been hit hard by the recession and I guess I'm getting some real backwhip from the "aftermath". I was laid off from a restaurant in Boston in May and even right now getting a work-study job here on campus has been a lot tougher than any of my previous job searches. As if the $50K+ per year before financial aid that my parents and I kick in was bad enough prices on textbooks, clothes and simple groceries have all balloned to points where I'm just trying to break even let alone try to pay off a little bit of my student loans. Right now I feel like there hasn't even been a real improvement.
Recession has a definition, and if it's over it's over. The only thing I feel is that job numbers had better go back up.
I have been looking for a job with no positive results for 18 months.
The recession is over?
No one in our home was unemployed, so the recession didn't home like some. But I can tell you that I have noticed a BIG difference in the number of shoppers at our local mall. Last year it was like a ghost town. Recently it looked as if the Christmas shopping season had begun. It was packed, and nice to see.
No jack until you do not see a boom in consumer spending and confidence and more of the now hiring signs pop out then you assume that this recession is not over.
It took us 30 years of deregulation and systemic shakedown of the middle class to get us where we are. Study after study show the middle class incomes decreasing. Who is going to buy all these levely chinese products when we can barely afford our food and shelter?!?!?
We would need true leaders willing to stand up to the big corps and their republicans backers to go back to the pre reagan days... till then... America will keep suffering.
No one knew we were in a reccesion until it was too late... the same will be true for the recovery.
The receeding part of the recession is over, and the fire has been put out. The recovery is slow, but it has been going on, and I see it in my job and its customers. You can't have a home nearly burn to the ground and expect it to be in top condition right away. The rebuilding is tough, but it is going forward.
I think the recession will last a lot longer in our minds. People have learned to be more frugal, to do without luxuries and even to do without some necessities. A lot of the middle class learned what it was like to be poor for the first time. People became less enthusiastic about the stock market and more into filling up their savings accounts. And I think many people have been scared into permanently renting their homes and avoiding mortgages. These will probably be lasting cultural effects, especially for young adults like me who came of age during the recession.
Companies, meanwhile, have gotten used to balancing their bottom lines through labor reductions and I don't think they'll want to give that up even after profits come back.
When I look at the classified ads, the "help wanted" section is a mere shadow of its former self. The jobs that are available are mostly minimum wage, and even those are filled quickly. Many of my 30-something friends have moved back in with family, sharing homes with parents, siblings, and cousins. Our homeless shelter is at full capacity. No, Jack, I don't feel the recession is even close to being over.
Darren in Fairbanks, Alaska
Yes, I do. the economy exists only in the mind. Many people still believe that the recession is still going on, so, for all intents and purposes, it is.
Jacksonville, FL
Of course it is Jack! (If you are member of that clownish body in Washington! You know clowns never like to see the gloomy side of things! Anyone who votes for an incumbent this fall should be arrested for treason! And anyone who votes for Democrat OR Republican should have their head examined! It's time WE the PEOPLE film our own version of reality TV!
I think that this country is now ready for the depression. It will hit by the end of this year...Walk into any Walmart...the story is the same. Empty except on weekends. That is a good barometer. Walmart has traditionally been busy every day of the week, most all stores. I know this. Anyway, until the big liars can be expunged from government, we will have more of the same. Government has lost one fundamental that is essential to all of our well being...to tell the truth at least 50% of the time. That has not been the case for the past 10 years...hence the MESS we are IN!!!
Jack: Asking "Do you feel like the recession is over?" in my opinion is just like asking "Will Rush Limbaugh and Jim DeMint vote for Democrats in November?" The answer is not just "No," it is "Hell No!"
The Recession is far from over. There are no indicators that would support any other conclusion. I realize we saw marginal growth in GDP in two quarters but that's not enough of a test to call it over. Everything the government has done has been wrong. You need to supply work not buy off union friends. This President is a very weak leader and he may be smart but he is American street stupid or interested in another outcome other than a robust economy. I would hate to believe that he would put himself over the country but it's starting to look like that.
Of course not ! And it's quite obvious to anyone who is intellectually honest that Obamas so called "stimulus" package has stimulated nothing but massive debt for our children and healthy profit for the banks.
Philmont NY
unemployment is north of 9%, people have been out of work for an extended people of time, if you want to sell your home, you can't because no one is willing to take the risk and our government is pushing our country further and further in the hole. so, is the economy turning around – no! Instead our Congress continues their partisan debate and that is what needs to change – real debate, real issues and real progress!
Part of me says, yes, recovery underway. Looking at the lines of people buying computers and phones known for stylish design, yes; the number of people consuming expensive prepared foods at high-end 'food markets', yes.
On the no side, I'm seeing people by the side of the road looking for money, been approached by people at the gas station looking for money, and seeing many many more people just scraping by.
The high end of the economy is doing well, the low end, not so well. The gulf between economic classes has never been greater.
Yes, I feel like the recession is over. We have a few quarters of positive growth, hence, the recession is over statistically. We spent years building up the bomb that finally exploded into the worst recession since the Great Depression....now it'll take a generation to clean up the mess the bomb left behind. We'll get there, we always have in the past!!!
So the number say something. The reality is the recession is still on. I'm looking beyond my financial situation and I don't see any signs of anyone doing better. Businesses profits are up but they continue to extract wahtever they can from their overworked and burned-out staff. They know in this recession, they can just hire another person. It's so much easier than treating your employees as partners in your success.
Fort Wayne, Indiana
No, not by a long shot! It's time for a little protectionism.
I'm not feeling it, but I'm seeing it.
I have no feeling one way or another from my personal perspective. From the perspective of my fellow countrymen who are without work and are hurting, no it isn’t over. It won’t be over until businesses let go of the cash they have on hand and use it to employ more workers.
Two percent of my friends want to know what a recession is.
The resesion won't be over till the economy improves significantly. How can the resesion end when we are in a ditch. The resesion will be over when we are all driving again.
Richard, Ashburn, VA
Jack, I actually thank God for the recession. I finally accepted it was my unnecessary spending that had me suffering in debt, more so than the economy. I finally started a much needed savings account and stopped buying things that I really didn't need. Yep, the simple life is a heck of a lot easier.
This economy taught me how to manage my money better and thank God for the little things.
I do feel the recession is over. I think the may this that is saying the recession isn't over is people, MSM, politicians, ect... who can benefit from it not being over. There are tons of jobs out there, and people just have to understand that you are not going to be able to make what you had in the your last job or even work as often as you did at your last job. But there is tons of work out there for people who are qualified and willing to do it. The government has done a great job at generating chances for people to work. While it may have been on temporary, it is work and people should not have been so picky or "proud" to not take jobs which are available.
Recession is the price we pay for war. We just print the money. No one wants to pay for it with higher taxes. There's the spending that needs to be cut. War! Hoowah! What is it good for? Absolutely nothing!
This isn't a 'feeling,' this is a 'knowing' that there are no jobs out there any more. And it ain't over until the thin lady eats and has a roof over her head.
Merry
Savannah
Obsolutely NOT! If anything things have gotten worse, many of us are hanging on by the skin of our teeth, which are rotting now because we don't have health insurance. God help us if the Tea Party takes over Washington, their ignorance of what's happening is mind blowing. Lower taxes? Reverse the Healthcare bill? Limit unemployment to 30 days? What in the world do these people expect out of work Americans do? I wish Sara Palin would go home and keep her mouth shut, she is dangerous and her party is dangerous. With her help we will become a 3rd world nation, begging for food, shelter and medical help.
The recession is over ONLY if you are one of the thousands of people hired to work in the government. For the retiree, on fixed income, everything is going up.....all living expenses..... and no increase in income. God help our poor grandchildren.
No Jack the recession is still going strong here in Vermont despite what I hear in the stupid media.
Jack, it aint over man. I' here in Atlanta and I'm seeing and hearing horror stories every day. The only market segments that are doing ok are healthcare and technology and the more jobs you see going technology means the elimination of many "other " jobs in the long run in the other job markets. Technology in itself means efficiency, cost cutting, speed, etc. In the past, companies that wanted to expand would build a new or expanded building and add people. Now, they buy a new computer "system" and fire half the staff! Thats what jobs in the "tech sector" are all about eventually. Combine this factor with sending jobs out of the country and the hiring of illegals here and you can easily see that the job picture and the "end of the recession" are just really bleak at this time.
What Recession?! I know you're not going to read this message because it doesn't fit within the narrative that is being spun. First of all, as a software developer and technology consultant, I am as busy now as I ever have been. The fact is, if 9.6 percent of Americans are out of work, that means 90.4 percent are employed. While I understand that a lot of Americans are hurting, it is a complete and utter canard to say that the economy is in the toilet. We've got a long term structural debt problem that we have to get under control but the earth is still spinning on it's axis. The winners, in the near AND long term will always be those who are optimistic enough to prepare for a return to prosperity, not those who are paralyzed by fear and gloom.
Without the republican's negative approach to corrections for everything they screwed-up, we would be alot better off!
You mean is this depression over right? Absolutely NOT! Where are the jobs? The jobless rate continues to rise but this DEPRESSION has been over for 15 months? Nearly 10% are out of work, 6-7% are working fewer hours than they want to and God knows how many have fallen off the rolls and given up. This being over is just government spin.
Yes Jack, because there was NEVER a recession, IT IS A DEPRESSION for MOST Americans. The "recession" FOR THE WEALTHY ""IS"" PROBABLY OVER.
Liars run the country, Liars run the corporations, Liars run the media so really....does it MATTER if we call it a recession or a depression?? It IS how the economics AFFECT each and every household, whether we have jobs, money to pay costs of living, health care etc.
Talk is CHEAP, one can say anything, BUT talk does NOT PAY THE BILLS, and "dats the facts Jack!"
I haven't had a job in over two years, my savings and retirement funds are completely gone, my house is in foreclosure and the IRS is breathing down my neck – and I'm not alone. The end of the recession is about as much of a pipe dream as harmony and cooperation between Republicans and Democrats - which, by the way, would go a long way towards REALLY ending the reccession.
Just when I think we are safe and everything is getting better some well known person says a Depression is still on the horizon. Then I get scared and start thinking is my 401K safe? Do I need to move it? What else can I do to insure my family stays in the house we are in and we have food on the table? It keeps American families in a state of confusion and nervousness all the time worrying about our national debt, unemployment, and GDP. Much scarier than any science fiction written!
Jack:
As a recipient of media and press release info only, I cannot be sure the recession is over. But something big is "over" , like the Constitution?
I don't understand why the so called experts are saying the recession is over. I have a masters degree in structural engineering, i have been looking for job for about a year. may be it is the end of all the dream, the American dream. the Roman empire has come and go the same as the British empire. You never know if it is our tern
Ya, know after some thought, I wonder why companies like Apple, HP and others that are US companies want the US to buy their products, but they won't let the US manufacture them? That's a big part of the problem!
Oh yea, the recessions over. Government programs are efficient, Obama's qualified, Congress knows best, Were not overtaxed, Nancy Pelosi for President, etc,etc,etc.
Which recession is over?!? The one that the commercial sector saw, or the one that the working stiff's saw? The champagne may be flowing again on Wall Street with record profits, big dividends and huge cash reserves, but here on Main Street we're still fighting for our lives.
I have a Masters degree in computer science and over forty years experience, and I can't find work! The unemployment that we get might just barely cover our bills if the bankruptcy court didn't take 25% off the top!
With unemployment, reposessions and defaults all at stratospheric levels and no relief on the horizon, just who is it who says "what recession?", anyway? What planet are they living on? I want to move there! Hell No, the recession isn't over!! Grrrrr!!!
Jack , I think the Obama administration forgot to checkoff the Economy , Unemployment , Tax Cuts and Spending boxes off of their " To Do " list . . .
No. I'm a public school teacher who has 13 years in service. Knowing how badly the budgets at the school, city, state, and federal level have been handled, I fear that the lay-offs that have occured this year will be minor papercuts compared to the amputations that will be coming in future years...when is this country going to put education of its future as the number one priority?
The economy is in a Depression and there aren't any jobs.
Everyone I know is out of work. Things seem to be getting bleaker
with each passing month. Donald Trump said on CNN just the other day that nothing is made in America anymore; and it's true. That's why there are no jobs. Congress needs to pass the New Deal and create 100M jobs and there needs to be more investments in innovation in this country.
Auburn, California
Between pay decreases, furlow days, reduction in health benefits and increases in health premiums reinforces the fact that the recession is not over, at least for me, and a large segment of the workforce.
Track jobs and Unemployment forget GDP as an indicator of when the recession is over. I will not make large ticket purchases until I feel my job is safe from layoff. The recession will be over when the masses purchase large ticket items like homes, cars, refrigerators, washer and dryers. This will happen when all Americans who want a job are working; have job security and are optimistic about the economy.
Jack, you missed the whole point of this announcement. By saying the recession officially ended in June of 2009, there CAN BE NO DOUBLE DIP! If the economy continues to slip, it will be a NEW recession, and Obama will not be at fault for causing the infamous "double dip"! The one good thing that comes out of this is that Obama can't blame Bush for the NEW recession when it arrives.
The recession isn't over for anyone who is still unemployed and it won't be over until everyone who wants a job has one.
Tina in OK.
Nope, the 'recession' isn't over and it should really be called a depression.
In my area (Inland Empire, CA) one in eight homes is in foreclosure and the unemployment rate is 13.3%.
Obama et al can claim it's been over since 6/09 but we citizens are living the reality ... Summer of Recovery, I think not.
Heck no, Jack!! The recession is far from over!! What is a jobless recovery?? This is just as oxymoronic as declaring that a sick man just made a morbid recovery from a grave illness, he is still near death-THIS IS ABSURD!! There is really no such thing as a jobless recovery. These politicians think we are all fools. People are still losing jobs, their homes and are seeing their standard of living decline. Jobs cannot be found or had. We need to vote these incumbents out of office–Democrats, Republicans and Independents and vote people in who will focus on getting our economy back on track!!
No one ever took in consideration this is the worst recession since the great depression it took 6-8 years to get out of that and you think this recession is going to be over in a flash get real.Give the pres.a chance he hasturned it around .
Of course not! The recession has just begun, the only reason that we seem to think it has is all the outrageous economical and monetary injections that do not futher our chance of getting out of this mess. It is not going to be fixed by spending! No amount of stimulus will ever bring the economy back because we are in DEEP debt. Sadly the economy is almost beyond being self-repaired. The jobs we have sold over decades to other major countries are not coming back. We have to be sly and very intelligent TOGETHER. This is going to be a nation wide effort to get back or we will be looking at ourselves as a shell of what we used to be. As much as I don't like to say it we may have to shut borders down, and stem the flow of illegals that are steadly taking what is left of the small jobs over, These are not AMERICANS they are foreign aliens that are sucking our economy even more, The same with the extreme rich, Their must be caps and regulations on how much you can make individually at the top corporate levels, This is just a hint of the rest that needs to be discussed and mandated!
Jack in my community we see Construction opeining up, an we had a lot Vacationer along our lakes this summer. We also in this small community see more/more employment in our small local paper. I also get the City paper near by an I see 2/3 pages of employment in them. It seems to me people simply refuse to take lower paying jobs/move to locations were the jobs are in these day/times like we did to find jobs when times were hard. we just got to use to liveing high on the hog.
Jack,
No, I don't feel like the recession is over, and it won't be until Congress repeals the laws they passed to let Big Business outsource our jobs. Seems like nobody wants to even address that issue. They'd rather eliminate our chances for less expensive healthcare and lower taxes. It's like the GOP is playing chess, but the Dems came to the table prepared for checkers.
Evidently, the wise men of Washington don't understand the real economics of the "folks" who aren;t on the government payroll. If they did, you think they would cut back on their lavish lifestlyles like Michelle's $500.00 designer sneakers and many vacations with no expense spared. Or do they just not give a hoot ?
Jack,
The recession is over for Wall Street, Investment Bankers, and CEOs. All others, enjoy the recession ride.
The economy is not receeding anymore, so it is not in recession, it is in fact growing. We'd all like it to grow faster, and be more stable going forward than the bubbles of the past, but it is indeed growing. I see it in my job and in our customer base.
Companies that out-sourced the jobs for years and years before this recession was certainly not helpful. They should have been given tax breaks to remain here and more incenitives. Instead we practically rewarded them.
No the recession isn't over. I've been lucky enough to remain employed through this down turn but paycuts and benefits disappearing are the norm.
No, I don't think the recession is over. My neighbors wouldn't be losing their jobs and homes and people moving out of homes recently purchased. Everyone knows someone who is and has been looking for a job, any job. Businesses are closing down and there are more empty stores in all neighborhoods. We manage but we are constantly looking over our shoulders to see who is next. There is a overall feeling of uncertainty daily.
It sucks!
These government agencies need to take a look around we are not out the recession/depression whatever you want to call it. I want my country back!
No – it's not over. Every week we grocery shop, it costs more. Gas (while still very cheap on the global market) is creeping up. Utilities – costs increasing. Basic services increasing. Housing costs increasing, housing values decreasing. According to the American institute for economic reasearch – i make 20% less in 2010 than I did in 2000 – so no – it's not over...
Don't unemployment rates only track those using unemployment benefits. If the recession has been going on that long and that many people have been unemployed for over a year...guess what? There are lots of people not even eligible for unemployment. At this time that number seems useless at best. The world as we knew it has chaned. Time to move on and quit viewing this as a cycle similar to any other.
The recession is far from over. mark my words.
jack i personally believe that this whole thing has been very orchestrated do i believe that its over probably they have completed their shopping list wages are low because there are no jobs they can snatch up property cheap because of repositions and they have wiped out the middle class why wouldn't be over
The recession will be over when the republicans and corporate America want it to be and that is when they have succeeded in draining the treasury dry and finally run Obama out of the White House.
NO, are you kidding!
Unemployment, Foreclosures, Excessive Gov Spending, US Debt, Loss of Manufacturing, Health Care Costs, etc.
The U.S.A. is declining from a superpower/democracy into a 3rd world/socialist environment from the self serving, shameless politicians and special interests groups. God Bless the USA, we need it!
No way. We are being artificially propped up until after the elections. After that we are going to spiral into an abyss so deep you will think the 1930s were the gilded age of prosperity. DOOM!
Jack this is history repeating itself. Add the gas lines, double digit interest rates and it is Jimmy Carter all over again. This is what happens when Americans believe the spin and elect someone who doesn't have a clue.
We may be getting through the recession.
But the pain of American workers wages equaling out with third world countries worker wages has only begun, I'm afraid.
This material ression is merely a by-product of our current spiritual condition. God has always been our provider and He has prospered us well. Since we've begun to kick God out of the most important elements of our lives it's no wonder that our prosperity and moral standing is fading.
If you accept the government definition of recession, yes it is over. The problem is that their definition is far too narrow. We have experienced a decline and now stagnation. A true recovery will not happen until unemployment is significantly reduced, home mortgages are less than the value of the home, federal and state budgets are balanced and the cost effect of healthcare legislation is known and is affordable.
Not on your life! Laid off in May 2009 at the age of 59, I have diligently and daily searched for an appropriate position (should registered professional architects with 30+ years US and International experience seek clerical positions with WalMart?) for 16 months with no tangible results. I don't mind the idea of early retirement with meager means of support on my 201K and early Social Security benefits, I'd just like it to be my idea! Jobless Recovery, indeed! Oxymoron, indeed! Wall Street and Bailed-out Banks with our tax money but no money to lend, indeed!
BobK, OKC, OK
No the recession will not end til we change how we do business...first, the government cannot create the jobs we need..and companies must stop getting rid of middle and lower end jobs in order to maintain high salaries and bonuses for the few at the top whenever business slows down.
Jack, our country is $14 trillion dollars in the hole.
To put that in perspective, if you added up ALL of the gold reserves in The U.S., it would add up to only $285 billion...or 1/56 of our National Debt.
So, when you hear a politician say "We are going to spend $350 billion for this new jobs bill"...they are talking about spending the equivalent to ALL OF THE GOLD RESERVES WE HAVE IN STORAGE.
The Tea Party "we the people" are FED UP with the status quo, tax-and-spend crap from BOTH PARTIES and have set an agenda, based on The U.S. Constituion, that will force government employees to be FISCALLY responsible.
I don't understand what the "BIG" surprise is with this issue. Our president clearly stated that this recession was going to have long lasting effects and it would take a long time to crawl out of it. I have felt the effects of this recession with a two year forced vacation (unemployed) and I knew at the beginning that it would be this way. I have tried my hand in several jobs and making money were I can, however I know that we will not be out of the woods any time soon. If republicans would just stop their “BS” attacking projects to build our infrastructure, push towards education reform, leash the private sector and continue health-care reform; perhaps we may be able to produce some educated, well informed, healthy, socially responsible younger generations that will not fall for the shenanigans we allow on capitol hill today. Don't get me wrong there are many democrats that don't' deserve to be representing us either, however “us” as a people have allowed these clowns to represent us. So stop all the band-wagoning on sounds bites, educate yourselves and go out and make a difference in your community that will help everyone and not just your own egos. Thats the only we we will get out of this. Remember Obama said “WE” must change.
Jack-are you serious? This depression is worse than I can ever remember so who are the snob intellectuals chattering Washingtom know alls who have probably never created a job or a business in their life. I will be having to close my business at the end of this month as no, repeat no local banks are lending money so my employees and I will be looking presumably fruitlessly for work
Recession is not over unlles we stop spending on things we do not need and start producting thing needed and stop antagonizing workers.
.
No the depression isn't over. Wages are still plummeting. All the jobs I've looked at lately are paying significantly less than they were paying when I was in high school, about 15 years ago.
Not over here either!!!
I'm thankful that at least one of us in our household still has a job, but the income level has dropped over 60% in the last 2 years.
At my current job, all wages are frozen and we are forced to take 8 unpaid furlough days a year besides the wage freeze.
All the prices keep going up and wages (if you have any) keep going down. It's not a pretty picture.
No!! The Recession is Not over. I have a decent job, have been doing pretty well, along with my GF who also has a good job that pays well (Enough) to get us by. I realize that there are a LOT Of people who are considerably worse off and who either have to work several minimum wage jobs just to get by, or can't find any job at all. I don't usually feel as bad about those who were stepping on us below to make it all the way to the top then who lost it all when things came crashing down, but I do very much feel for those who have been struggling all along. As I have stated before, if you want to end this recession this country needs to bring back the jobs that have been sent overseas, and we need to start with the basics by producing goods! Factories of all types... Let's get behind "MADE IN AMERICA" Manufactured in the USA, Built In the USA, Assembled in the USA.!!!
The crime is going up or down????????????????
No the recession is not over by a long shot. I was layed off 18 months ago and unemployment is still 10% here in Charlotte,NC with no end in sight.How can the recession be over ?
Hi Jack,
No, and it won't be as long as we have massive unemployment due to the majority of those workers being replaced with foreigners that send most of their money outside of our country!
Massive unemployment and a slumping economy won't go away as long as we allow our jobs to be done by foreigners and spend too much on foreign aid, inside and outside of our country, WE ARE BROKE and must stop this!!
Mary
Yorktown, VA
Well bless my soul. I would not have known the recession is over. I dont see it here where I live. My neighbors sitll hide their fire wood, so no one will take it. No one has any money. No one pays for anyting in cash. Only those lucky enought to have a credit card , get by through the month. I am on disability and it All goes to the three largest banks in the nation. All of whom make Billions each month . My primary bank , Wells Fargo , was recently fined two hundred and fifty milllion dollars for illegal fees and fines. I was recently fined $120 for a $2.50 ATM over draft. If I had no money to cover the charge why was it approved? Because the banks make most of their money on fees, fines, and forclosures. Well I wish I knew where the money is. If ahyone has a tip I would love to know. My 14 year old car is starting to over heat and I have no money to fix it or buy a new car. Or a used car. Guess my area was over looked by this recession recovery. But at least somewhere someone is getting rich on this . Its not here in northern California. Oh well, at least I still have a roof over my head. Have a nice day.
Recession over? Tell that to the marines!
Jack,
I don't believe the recession is over. I don't know how any one can come up with this kind of news with a stright face. or example we still have high unemployment, massive debt, low consumer confidence.
Until we get some new people and new leadership running our country we will continue to stagnate.
We may see some light at the end of the tunnel after the November elections reflect what the majority of Americans really feel ablut change for the better.
I think the RECESSION is over. The economy is not contracting any more, and that is the definition of recession. Now has the economy made any improvements, no. The economy got bad and is staying bad....but isn't getting any worse.
In response to your announcement on tonight's news that the
"recession" is over, Yes ... it's over, it just moved to a DEPRESSION!
Only the knuckleheads who provide this information don't know it.
These people must live in la-la land, or another planet.
They're the one's isolated from their paychecks being smaller or out of a job. Ask the 9.7 million people out of work if the "recession" is over.
Give me a Break! This country is on the fast track to becoming a
third-world country. I think that's what all the rich people are trying to do.
Thanks for your excellent reporting, Jack. Keep up the good work.
PR
If it was I would be out eating with my wife and daughter instead of posting a comment on your blog. I do miss the entertainment budget, I'm from New Orleans, and there are some pretty nice places around here to eat and party that I can't afford to go to. Recession over, yeah right!
Personal situations of individuals do not dictate the state of the economy as a whole. Recessions are measured by GDP and economic activity. Two consecutive quarters of positive GDP signal the end of a recessionary period as far as the overall economy is concerned. We had that, and so the recession is over. It will always be a bad economy to someone who is unemployed or lost their home, no matter what the overall economy is doing, but the economic health is not measured based on their, or anyones, personal situation.
David J.
So Cal
The recession isn't over for the poor and middle classes. No money or jobs are coming their way. The banks and big business (who are doing well right now) are being incredibly stingy. I'm actually going to suggest we use a Bush tactic here: issue a tax rebate. Since everyone gets $400 or $800 dollars that means most of the money goes to the poor and middle classes, who have to spend it all to get by these days, meaning the economy will get a boost. It worked before and looks like the prescription for what we need right now.
Stephen R. Collier
Virginia Beach
Well, Jack, ask the republicans. They are the experts in starting the recession and keep it going. Now they are pledging to reconstitute the recipe: tax cuts, keep those 43 million of us and those of us who are sick without health insurance, deregulate the Wall Street and, yes, bring back sub-prime lending. They like recession, don't they!
of course recesssion is over. what we have now is a lot of whining from a bunch of losers that cant or wont get their act together and get a job. Get on with it america.... get back to work for crying out loud and stop the helpless victim thing!
The truth is, until the real issue at hand is addressed the recssion will never be over. Until businesses decide to bring back jobs that are being sent sent overseas the recession want in.
Anyone who thinks the recession is over, hasn't been touched by the economic downturn. It must be a nice illusion to have. It is obvious the politicians don't care. Unless it starts affecting those close to them, they will do nothing. They only care about their "constiuents" during election time. But since they don't remember our faces or our names, after it is all over they don't give a damn. Maybe if they had to live on the wages of the "working poor" they would actually do something.
The only way the Recession could be called over, is because America is in a Depression.