Unemployment Hits 7%

[ANewStart]

Unemployment in the United States has hit a new high of 7.2% after 524,000 jobs were cut recently adding to a net total of 2.6 million jobs lost. Will this recession ever end?

 

[9sublime]

Will this recession ever end? What world have you been living it. We have been in economic boom until a year or two ago. This recession has only just started and has a good few years to go.

 

[ANewStart]

Will this recession ever end? What world have you been living it. We have been in economic boom until a year or two ago. This recession has only just started and has a good few years to go.

Let me rephrase it: When will we start seeing some positive results in the long run? Of COURSE we have a few years to go at least until this recession ends, I never said that I expected it to end overnight!

 

[Lagboltz]

Unemployment in the United States has hit a new high of 7.2% after 524,000 jobs were cut recently adding to a net total of 2.6 million jobs lost. Will this recession ever end?

Of course there is a big gray area on how one defines "end". It will hit bottom, and then gradually rise. It looks like the bottom will be rocky if the stock market is a good indicator (it isn't). A macroeconomist that I know says he thinks the bottom will not be below 7,000 for the Dow Jones index. It is now 8,200. However it can be costly to try to predict the bottom. My friend thinks it will be at the end of this year, but I think that the government is not telling us specifically how bad things are. Obama has hinted at it.

There is an accepted way of defining recession, which I don't know, but in reality the end will mean different things to different people. Since I'm retired and living off of IRA's etc, it will end for me when the stock market recovers. For others it may end when the job market improves so they can work in the area that they are trained, rather than a temporary job bagging groceries.