Summary
Are we in a recession? Half of Americans think so, at least according to the new CNN opinion poll. The poll helpfully described the recession as "marked by a significant decline in economic activity." But what the CNN article describing the poll doesn't tell is that our economy is nowhere near a recession.
The government uses the National Bureau of Economic Research to define when recessions begin and end. This nonprofit Cambridge organization defines a recession as "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP (Gross Domestic Product), real income, employment, industrial production and wholesale-retail sales." Most economists consider a recession two or more consecutive quarters of negative economic growth.See the full content of this document
Extract
Who Says We're in a Recession?
So, are we in a recession?
In September 2007, the Bureau of Labor Statistics said 110,000 new jobs were created. For each of the past three months, our economy has created an average of 97,000 new jobs. Since Aug...See the full content of this document
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