U.S. recession officially started in December 2007
Yes, you were right to be worried.
For the last year, we've been in a recession --- a reality finally confirmed by economists today.
The Associated Press has reported that the U.S. officially entered a recession in December, according to the National Bureau of Economic Research.
Here's some basic resources to help make sense of this:
According to HowStuffWorks.com, a recession is a period of economic slowdown --- with less buying, less manufacturing and fewer jobs --- that persists for six months or more.
Economists working for the Business Cycle Dating Committee of the NBER, a non-profit organization, analyze factors such as "personal income, the national employment rate, sales in manufacturing and trade, and industrial production,"according to the Web site. Gross domestic product is not weighed as heavily.
Updated: here's the AP story on the news about the official declaration of a recession.
Comments
At least there are plenty of things to do in Baltimore for a dollar or less:
http://www.kidslovedowntownbaltimore.com/CMS/upload/DTP_DollarDaysFlyer_Online(1).pdf
Posted by: Cheese | December 3, 2008 12:12 PM