Monday, September 20, 2010

The recession has been declared “over”

Day 112 with no job
This was not the subject I was going to write about today, but I just read that the recession is over. In fact, it was over in June of 2009. We should all celebrate because the 18-month recession that officially “started” in December 2007, and was the longest and deepest downturn for the U.S. economy since the Great Depression according to the National Bureau of Economic Research (NBER) is finally over. So, how is it that the very month that the “Great Recession” ended marks the month that my spiral into unemployment began and a year later marks the date of my complete state of unemployment? Thinking the article I was reading would enlighten me, I read further.
It turns out that the NBER didn’t actually say that the Country’s current economic conditions were “favorable” or that we’ve returned to what we had before. What they are saying is that June 2009 is when we “hit bottom.” While this pretty much helps me understand why I got laid off, when I got laid off, even though the recession was over, I’m still having a hard time wrapping myself around their logic. So, following that line of logic, if I am incredibly ill, am I no longer considered sick as soon as I hit the day I feel the worst? I’m not a doctor, so maybe that is actually true. I just think that it is deceptive to declare the recession over just because it hasn’t gotten any worse than it was in June 2009.
The article did talk about concern about double-dipping which is way beyond my economic understanding. The term just makes me hungry. Anyway, check out the  link below if you are interested in reading the article.
            Meanwhile, I’m going to hit the pavement and find a job today. As soon as I tell prospective employers that they can afford to hire me because the recession has been over for the last 14 and a half months, I’m sure they’ll snatch me up.


  1. You will find that perfect job because you're a fantastic find. Keep your chin up. Lots of good company out there.