Growth economic downturn happening even though Recession ending a year ago
Differences between Recession and DepressionThe National Bureau of Economic Research claims that the longest recession since the Great Depression finished last summer when the economy began to grow again. The Los Angeles Times reports that a relapse, or double-dip, would be a new recession. The Good Depression lasted from 1929 to 1933 which makes it the longest recession with 43 months, giving the 18-month Great Recession the runner up spot. Between 1973-75 and 1981-82 there were two 16 month recessions. There were over 8 million people with job losses. The recovery of the labor market may be too slow. Since output was sustained with productivity growth, jobs were lost which is why the NBER states probably the most damage came from.
On paper, seems like that the Economic downturn isn't there, even though the streets say otherwiseThe expansion that is being seen may not be enough to do anything, says NBER. The Washington Post tells us what a recession is defined as. This is defined by NEBR as "a period of falling economic activity spread across the economy, lasting more than a couple of months, normally visible in real gross domestic product (GDP), real income, employment, industrial production, and wholesale-retail sales." GDP and industrial production has bottomed out. This has just happened since June 2009. There was no expansion in employment for a long time. It didn't pick back up until December 2009. As outlined by the NEBR, just as the end of the recession was announced doesn't mean conditions are getting better.
Interesting facts about the expansion recessionThe expansion economic downturn is shown as the unemployment rate weakens even though the economy expands. Bloomberg reports that economic growth slowed in 2010 to a 1.6 percent annual rate in the second quarter from 3.7 percent within the first quarter. A 5 percent rate of expansion was shown in 2009's fourth quarter. This made many individuals less worried. Joblessness rates have been stuck at rater higher than 9.5 percent. This has made it hard for the economy to grow without consumer spending. The economy might be aided with tools Fed chairman Ben Bernake states he has. Many think the Fed should purchase more government debt or treasuries since rates of interest are near zero. Numerous individuals think that individuals just need jobs. This would help America's economy a lot.
Los Angeles times