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The government will release figures this week expected to show that the economy has awakened from its deepest slump since the 1930s and is in the early stages of a recovery. But the following week, the government will issue another set of figures expected to show unemployment continuing to rise toward and possibly above a clearly recessionary 10 percent.How can both be possible?
The government releases third-quarter Gross Domestic Product figures on Thursday. Many forecasters say they will show GDP growing at an annual rate of about 3 percent, validating a widely held belief among economists that the recession ended in June or July.
But try telling that to the more than 15 million still unemployed, the small businesses and individuals who can’t get loans and the people whose homes are worth less than their mortgages.
Assertions by government and private economists that the recession is over — issued amid graphic examples of continuing wide distress — are raising fresh questions about economic scorekeeping.
Source/Full Story: Yahoo! News
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[...] 27, 2009 — US: Gov’t may say recession over but not job losses…The government will release figures this week expected to show that the economy has awakened [...]
[...] 27, 2009 — US: Gov’t may say recession over but not job losses…The government will release figures this week expected to show that the economy has awakened [...]
[...] 27, 2009 — US: Gov’t may say recession over but not job losses…The government will release figures this week expected to show that the economy has awakened [...]