While job rates have continued to jump all over the place and many American’s are still struggling to pay their bills, a report by the National Bureau of Economic Research states that the recession actually ended in June 2009.
The group, an unofficial organization that announces when recessions end say that the GDP was up 3.1% for the second quarter of 2010.
While that number is a good sign for the U.S. economy the Organization for Economic Cooperation and Development also released a report showing that US unemployment is expect to remain very high for “some time” with a possible rebound date sometime in 2013 when unemployment levels are expected to head back to pre-recession levels.
Analysts have argued over whether or not we are actually rebounding from a recession, the current political landscape of November elections has unfortunately created confusion among consumers and job seekers as the GOP continues to push a “recession scare” upon voters, while Democrats have looked to reports such as this one to show that their Democratic run policies are in fact working, hopefully come January 2011 we’ll have a better idea of our actual economic outlook.
In the meantime, I’m going to sit comfortably in the middle and wait to see who’s policies are actually working, Democrats or Republicans.