news – the recession officially ended in June of 2009, making the “Great
Recession” 18 months long. (That is the longest downturn since the Great
While the National Bureau of Economic Research’s Business
Cycle Committee came to that conclusion, a separate research panel said that
the unemployment rate would not return to pre-recession levels until 2013.
Growth has been painfully slow, and virtually nonexistent up
until this point. The very idea that the recession has ended should be
insulting to those unemployed or underemployed.
There were some silver linings this summer, including
better-than-expected housing numbers, but companies are still not hiring aggressively
because of various concerns. The one period of the year that sees aggressive hiring,
the holiday season, may
not even reach pre-recession levels.
To add insult to injury, President Obama is planning on
letting the Bush tax cuts expire, which would mean millions of dollars in
investor cash would be yanked out of the sputtering economy, and into the hands
of the bloated government. That isn’t exactly a good fiscal policy to inspire
Students are the ones hurt most, since out of college their
resumes are thin, and they are now competing with qualified employees who are
willing to take entry-level positions amidst this recession this