Has the recession ended for you?

What do you know? The recession has ended.

The longest recession the country has endured since World War II officially ended in June 2009, Associated Press reported Monday.

The National Bureau of Economic Research, a panel of academic economists based in Cambridge, Mass., says the recession lasted 18 months, AP reported.

It started in December 2007 and ended in June 2009. That was the longest of any recession since World War II.

But unemployment in Georgia remains at 10 percent and is just a hair better nationally.

What do you make of this latest news? While the recession has ended for the academics, has it ended for you?

For instant updates, follow me on Twitter.

200 comments Add your comment

first

September 20th, 2010
11:20 am

first
over my arse

Um

September 20th, 2010
11:21 am

Not sure I believe it.

Understanding Atlanta

September 20th, 2010
11:21 am

I see glimpses of hope. It has long been touted that Jobs are the last thing to recover during a recession and give it time and I believe they will return, just not in the same industries.

There’s nothing like the American resolve!

Obama

September 20th, 2010
11:21 am

Yes, it ended for me as soon as I was elected Ruler of the World.

Obama

September 20th, 2010
11:22 am

Republican

September 20th, 2010
11:26 am

NO NO NO… HELL NO

The recession began in January 2009 and won’t end until January 2013

Nate Deal

September 20th, 2010
11:28 am

No – we are still struggling on the Deal front. I am seeking a new job that comes with a big house on West Paces Ferry and a steady pacheck for at least 4 years. I am hopeful this will resolve my recent issues with too much debt and business failures. I own an auto salvage company with a nice state contract, but that has been under pressure lately as well. I also had to resign from my last job due to ethics issues. This has been a most challenging recession.

Ben

September 20th, 2010
11:32 am

Pretty laughable conclusion. Ask any of the nightmarish levels of unemployed if it’s over. Ask anyone who has seen their salaries stagnate the last 3 years while cost of living continues to rise.

No, it’s not over but I think the current administration has made strides to help but it takes time for these things to be felt. Sadly, in the McWorld we live in, people don’t have the patience.

itsme

September 20th, 2010
11:33 am

All the folks at The National Bureau of Economic Research have jobs. They obviously have not talked to the folks who don’t.

N

September 20th, 2010
11:33 am

What a stupid headline. Anyone paying attention knew it ended last year. Look up the definition of a recession. Come on. Luckily the job losses have stopped, now let the recovery start.

N

September 20th, 2010
11:33 am

What a stupid headline. Anyone paying attention knew it ended last year. Look up the definition of a recession. Come on. Luckily the job losses have stopped, now let the recovery start.

fools

September 20th, 2010
11:36 am

Who are these fools? I say we are in a DEpression not a REcession.

billy

September 20th, 2010
11:36 am

For those that love God, all things work out for the good. That our troubles are not wroth mentioning compared to the glories we have waiting for us in heaven. There is coming a day, when there will be no more sorrow, or pain, or struggle. The former things will have passed away.

no way

September 20th, 2010
11:37 am

Pure propaganda. As long as there is high unemployment, houses aren’t selling, consumer confidence is low, businesses are scared to invest, banks won’t lend money, etc we will remain in a recession.

Ask the average guy on the street if we are still in a recession. The answer you get is way more reliable than the bogus numbers Washington puts out.

Nice try by the government though. Say something often enough and alot of people will start to believe it.

N

September 20th, 2010
11:39 am

Wow. Its sad when not one comment shows they know what a recession is. It is not some feel good/bad thing, its the numbers and the numbers show the economy is not shrinking. I guess as the saying goes its a recession except when it affects you its a depression.

fools

September 20th, 2010
11:39 am

@N Depression: a long term economic state characterizied by unemployment & low prices & low levels of trade & investment. Yep that sounds almost right.

Recession: the state of the economy declines

Huh?

September 20th, 2010
11:39 am

Seriously? If that is true, are we now in the longest and slowest moving recovery in the history of mankind?

GET REAL!

September 20th, 2010
11:40 am

After a dozen vacations in 20 months, one might preceive the recession is over. With the ‘over the top spending’, one might also get the same impression. But then comes the rest of America, beyond the mask of the White House, and into the world of reality…. side note… Some have watched the epic series of Star Wars, and they too, believe it is reality….

Dash Rip Rock

September 20th, 2010
11:40 am

This is a joke, right?

SocialismSix

September 20th, 2010
11:40 am

It may have ended for them, but we darn well know better. What an insult. Millions of foreclosures and job losses. Who do they think they are kidding? We’re not as stupid as they think we are. As a matter of fact, they obviously are the stupid ones.

Larry

September 20th, 2010
11:40 am

Are they crazy, look at all the blds, offices, houses empty. Few jobs and America losing half of all equities and cash and stock!! They are complete idiots!!

Joe

September 20th, 2010
11:40 am

So let me get this straight. These are the same experts that for all of 2007 and most of 2008 claimed we weren’t in a recession. Then all of a sudden we were. Now they claim it ended just a few months after they said we were actually in a recesssion. OMG the country has people COMPLETELY out of touch with reporting false information.

Jeff

September 20th, 2010
11:41 am

Must be an election coming up.

News Junky

September 20th, 2010
11:43 am

@fools…you obviously have never had a conversation with someone who survived the depression to know just how bad things were. I agree, times have been very difficult, and continue to be difficult for some families, but nothing like the Great Depression.

Observer

September 20th, 2010
11:44 am

Recession over? Only a mentally retarded democratic Obama worship could beleive that joke.

N

September 20th, 2010
11:45 am

Joe – thats correct. Since it takes 2 qtrs of negative growth to have a recession you don’t know for sure your in one when it starts. I blame the media for hyping these things and leading people on, most in the media want to twist what a recession is.

Chris

September 20th, 2010
11:45 am

these are the same idiots that said all the oil that leaked into the gulf has been cleaned up…what a joke

Dems DONTGETIT

September 20th, 2010
11:47 am

It only ended for Federal employees. They were the only ones to get raises! Government jobs were the only sector to show growth!

News Flash

September 20th, 2010
11:49 am

Some how my bank account doesn’t know the recession ended over a year ago!

Chris

September 20th, 2010
11:50 am

technically yes, it was over back then. Strictly speaking a recession is simply a period of declining GDP growth. Both of these things have stopped – we are adding jobs and the GDP is growing. We are in a period of expansion, a period of increasing GDP.

Now, certainly this doesn’t make things magically better. Perhaps the better question isn’t “Is the recession over” but “When will the pace of recovery accelerate to the point that Americans feel confident again?” We are growing, but not fast enough.

@ “republican” around 11:25? Do you have memory issues? the recession certainly didn’t start in Jan. 09. Remember McCain famously suspending his campaign and almost canceling a debate so that he could focus on economic initiatives (aka bailout bill) in the Senate in the fall of 08?

Blog expert

September 20th, 2010
11:50 am

You mean I got no more excuse to sit here and blog all day? Time to go back to work.

Red

September 20th, 2010
11:50 am

It is not over and any one who believes it is, is a Fool. A number of people I know are still without a job or only working part-time, and have been for almost 3 Yrs. The work they get only pays about 1/2 of what it used to pay. Everything cost more, my pay is frozen, but the bills still keep coming… It’s not over by a long shot…

Ed W

September 20th, 2010
11:51 am

Wow, look at all the conservatives who don’t WANT the recession to end and clearly don’t understand the calculations for economic growth . Awful Americans. Remember, it was your people in charge of all facets of the government when the disastrously bad loans were taken out. There is no quick fix, but Obama has done plenty of good reversing the economic collapse.

Jim

September 20th, 2010
11:53 am

The recession did end then and we went stright to a depression.

frankly

September 20th, 2010
11:57 am

For the AP and the elites at Cambridge, it “ended” as soon one of their socialist comrades was elected president. Clearly no level of propaganda is beyond the left-stream media these days.

WM

September 20th, 2010
11:58 am

Do I believe the NEBR? If you look at the metrics used in their decicion, most of them bottomed in 4Q 2009 and have been improving (albeit anemically) since. So yes, I believe them, but the end should’ve been Dec. 2009. And unlike the other metrics that can be revised, once the NEBR calls the end, that’s it. No mulligans.
Now does it feel like the recession is over? No. And it won’t for a long time. People are more pessimistic and nervous about everything and rightfully so. My personal belief is that the NEBR needed to officially call the end, so that market sentiment can begin the task of improving.

GT Bee

September 20th, 2010
11:58 am

Ask the nice people of L.A.: http://news.yahoo.com/s/yblog_upshot/20100917/bs_yblog_upshot/report-los-angeles-spent-70-million-in-stimulus-funds-to-create-7-76-jobs

NOPE, the recession is still going strong, no matter how much of our money the Prez throws at it.

Barrington

September 20th, 2010
11:58 am

Enter your comments here

Chris

September 20th, 2010
12:01 pm

economic lesson again everyone – the term recession applies only to GDP growth, or lack of it. So when people say a recession has ended they aren’t dumb – they are simply pointing to GDP measurement, which is what macroeconomists are concerned with. Unemployment is a lagging indicator. NOBODY thinks the US Economy is in good shape. You guys are answering the wrong question. Has the recession ended? Yes. Is the economy in good shape? NO!

It is too early to tell if we are in a Depression. Definitions of this are far more vague – although historically depressions last 5-7 years and feature unemployment on the order of 20%+ We may still go to that, but it’s too early tell.

Dude

September 20th, 2010
12:01 pm

Yes the recession is over just like the oil spill in the Gulf that just disappeared. Hahahah. This is just like when the Gov’t buys into futures just to prop up the stock market. No one talks about it but it happens. There was never a recession for to the Fed and its lackeys Goldman, JPChase, Citi….ect,ect. Lets build another bubble so it can crash in 8 years! and then lets do it again because the US population is too stupid to see that printing money = printing debt = bubbles = recession/depressions = cycle/rinse. Keep on believing your corporate US Gov’t you worthless minions of the Empire. The clock is ticking.

Barrington

September 20th, 2010
12:02 pm

Let’s see:

1. 41 million people on food stamps and still counting
2. Record high foreclosures in August 2010
3. Still no job growth
4. Growing trade deficit China
5. Increasing bankruptcies

Sure, the recession is over. Yeah! Also, did I mention I have a bridge in Brooklyn to sell?

allitrop

September 20th, 2010
12:04 pm

You silly people should go to the website of the The National Bureau of Economic Research to read the entire article. Then start typing your little fingers with comments.

That’s what you get thinking you can read a sentence or two and then think you know everything.

Honky Talkin'

September 20th, 2010
12:04 pm

Hey Billy,

I’m worried about today and tomorrow, not the afterlife.

Vern

September 20th, 2010
12:04 pm

If the recession is over, why do we have nearly 40 million people who receive foood stamps? Record number of foreclosures? Serious Unemployment?

Did thay study the “Destitute Index” or the “Broke A** Club?”

Mike

September 20th, 2010
12:04 pm

Let’s make a new internet word for news like this. Not, LOL, but COL (Crying out Loud). I’m still recessing.

fools

September 20th, 2010
12:05 pm

@news Junky, my Grandparents raised my parents & aunts & uncles in the depression. Several of my aunts got married & started their own families during that time & they all lived under the same roof (ALL 15 of them), no phone, no electricity, no running water. So yes I DO know about the great depression.

RL

September 20th, 2010
12:07 pm

I never had a recession. But I do not owe anyone any money. I sold my business in Charleston in Dec, 2009 and moved to ATL. Bought a condo in Buckhead for 50% off with cash. Since I know all the governments(ATL, school districts, state, federal) are broke and will raise all our taxes I bought the smallest place I could that will meet our needs to limit my tax. I do not have an expensive car because I do not need to prove anything to anyone and I want to limit my tax. I never look for someone to hire me. I look for a need and create a business to meet that need. I have just started a new company in SC and it should be breaking even in 6 months. I am first targeting Charleston and Columbia. I will then move into Atlanta. Don’t wait for others to hire you find a need and meet it. Get out of debt and have an emergency fund so you can weather financial ups and downs. Don’t do what everyone else does. I have made a 4.5% return in the market in the last month. Anyone can do it including you.

Josh

September 20th, 2010
12:09 pm

It’s so amusing that 90% of the people commenting on this article don’t know the definition of “recession” or “depression” in economic terms. Just keep listening to Hannity, Rush, Palin and Boortz; they do such a good job of keeping you misinformed and scared. If any of you had any savings you’d see that you’re doing just fine. The stock market (which equals mutual funds and is how your savings and 401k should be invested) is up 30% since Obama was inaugurated. It’s funny how the dumb masses listen to their Tea Party leaders and ignore facts.

Andre

September 20th, 2010
12:13 pm

Lol, did the Republican above actually believe that the Recession began Jan. 2009 and it won’t end until Jan. 2013. If you REALLY REALLY believe that, you’re one of those people that don’t need to vote.

CHIPPER JONES

September 20th, 2010
12:14 pm

What Recession? I make 14 million a year, and do nothing!!!!