Whew! I must just be imagining all the layoffs and hardships people are facing. I'll tell my boss the recession is over and that he can give the workers back their full 40 hour work weeks.

I think they mean for their bureaucrat buddies, its over......

The "Great Recession" has ended, officially.

Yea, Right! Who is this dumbsh!t that thinks it has ended? Heck, both my husband and I are still employed in great jobs but it doesn't take some financial 'wizard' to open their eyes and see what's going on around them. The NBER has their heads so far up each other a$$es they can't see what's what's going on around them or read about unemployment. Kind of like watching the weatherman on TV forecasting a sunny day while you look outside and see it pouring rain.

You mean the recession is over?

With 1 in 7 Americans living in poverty, I was beginning to worry.

Now we can all go spend loads of money we don't have just like the government!

Who are these people trying to fool??

"Recession officially ended in June 2009: NBER"

Who's in charge of the NBER,-a 'Community' Economist?

Well that settles it then. I'll vote for any candidate that prints/borrows money to "bail out" anything and everything.

NBER says the bailouts worked like a charm!

and these people have jobs?

What an absolutely ludicrous story. Unless your measurement of a recession is corporate exec bonus $$, temporary taxpayer funded jobs, and hundreds of millions in missing "shovel ready job" funds, and doubling the amount the US has borrowed in it's entire history, it didn't end.

The Great Reccession is over? With Layoffs coming for 15-17 major faucilities in my area alone? So are we calling this a Depression or did someone blindfold the people at the NBER and put them in a closet since 2007, then let them out because they said that?

So if the recession officially ended in June 2009 that would have ended Bush’s connection to it. Then all that has happen since June 2009 is on Obama watch but he continues to use Bush for the recession we have today when Obama has been engineering the recession himself along with the Democrats who have controlled congress. Its time in Nov. to end this ring of Socialist who are spreading like cancer in this country. The only goal Obama has is to bring this country down to its knees, and then all will work for unions or Government; his Socialist Marxist agenda will be complete

I always ignore Obama when he decides to point fingers rather than lead, but that's friggin hilarious that his claims & this story actually DO point to this being an entirely new recession brought about with supermajority Democrat control. So I wonder who comes out to say they "misspoke" and what "unexpected downturn" story will be next?

So if the recession officially ended in June 2009 that would have ended Bush’s connection to it. Then all that has happen since June 2009 is on Obama watch but he continues to use Bush for the recession we have today when Obama has been engineering the recession himself along with the Democrats who have controlled congress. Its time in Nov. to end this ring of Socialist who are spreading like cancer in this country.

Best post thus far....can't blame it on Bushie anymore this is OBAMA'S Economy that is TANKING NOW!!

Why are so many people completely clueless? Employement always lags after recessions end. This is an economic and historical fact. So after the worst recession since the great depression, caused by W. and Repub. policies, of course its not just going to turn rosey over night. In fact after the massive tax cutting, especially on the rich, by W. how come we had the worst economic performance in decades? I mean Clinton raised taxes on the wealthy and the nation created over 22 million jobs. W. cut those taxes and we had a net job loss of 600 thousand under him. So much for that conservative theory.

The announcement rules out the possibility of a so-called “double-dip” recession, because any new downturn would be seen as a brand new recession.

So how is a "double dip recession" that much different than a "brand new recession" on the heels of the old one?

People are funny...

The NBER have been doing this a long time.

They are simply taking the sum of economic data and determining whether we are in expansion (growth) or contraction (recession).

It's called *recession* because the economy is receeding. The economy is no longer receeding, jobless claims are no longer rising, unemployment is no longer rising, etc, etc.

Haha Good point, unfortunately, it doesn't work that way... We have to downsize government, banks, small businesses, and larger businesses need to take more chances in hiring people. Then those people have to buy more stuff they don't really need.

Baloney!!! You dont suppose the stimulus had anything to do with it do you?? Afterall, the CBO says that it created up to 3.3M jobs!

http://voices.washingtonpost.com/political-economy/2010/08/cbo_says_stimulus_may_have_add.html

BTW, the recession started in 200 according to this same board. Bush did nothing except deny it until he had no choice but to present TARP as a solution. Word is that Bush refused to allow Congress to be briefed on the coming disaster! A LOT of everyday Ameircans got SERIOUSLY hurt in this collapse! That why the Pubs got repudiated in 06 and 08 elections! NOW they magically are trying to blame it on the DEMs ( who werent in power) ; THE COUNTRY KNOWS BETTER!!

Um, dude...

If you really believe it's over, then you should check your economic indicators. All of them. We're heading into something a little worse.

Tom in NH, what you don't realize is that throwing money at problems never works, it creates more problems. Also, we are dealing with the decisions from 2 presidents ago, Clinton, and even Bush SR. You wish it was just a BUSH thing.

Sammy??? CLINTON????? LOLOLOLOL How about BUSH????

American Dream Downpayment Initiative: http://www.hud.gov/offices/cpd/affordablehousing/programs/home/addi/

THAT'S the 2003 bill that allowed low income people to buy houses that had no business buying them!!

I like that, you made me laugh...

And where will the rabbit be pulled from?

Have you not looked at the dude's ears...he is the Rabbit

This story kinda does belong up there with the "Breaking News, Hair loss recovery found" doesn't it?

yeah!.. Northern Ohio, too!

Don't forget Michigan. My county has gone from 19% unemployment to 14.5%. Recovery? No, people have either moved away or given up.

Indiana is still throwing extensions on there IU's

Can't blame all of Ohio's problems on Obama. I blame the Ohio voters who put DEM Strickland in as governor. He bilked the state for 8 billion in tax payer dollars, lost 125K jobs via NCR moved to Alabama where a buisness can run without a boot on it neck and on and on.

Ohio is going to hell in handbasket since we now will have casino's that the Ohio FOP supported saying it would bring 36,000 new jobs to Ohio. Casino's draw all sorts of people to the vacinity let's see, gamblers, hookers, pimps, bookies and TONS of NEW cop jobs to provide secuirty and stay on top of the NEW crime that will become down town Columbus casino district.

I sold my house for cost and now live in an apartment off my lifes savings at the moment. I plan a visit to the south with some friends where I'll be looking for a job that no longer EXISTS in Ohio. The farmers are selling out and moving, over 3000 small business have moved out and over 10,000 small business have just closed up shop for good since 2009.

Soon Ohio will just be intercity section 8, suburbs built on old farm land and whole lot of fewer tax payers moving out for good. Good luck Ohio, you're losing seats in the house like crazy and your electoral college as well. Soon you will not be the *bell weather* state because you'll be just one big ghost state.

I've lived here 51 years. Our state once was 49th in taxes, 3rd in education, 5th in leading the economy and now you're no more than a rust belt to the north and fallow fields to the south never to grow another row of food to feed this nation. I'll miss the Ohio I once loved and cherish my memories but I am forced to leave if I want job and afford a home without a casino state once again.

North Carolina is feeling the bite too. Things are looking up in the Peidmont Triangle, but outside that things are still hurting quite a bit.

Obama's recession.

That would make it Democrats & Obama's recession. So really, Bush got the car out of the ditch and Obama sent it off a cliff.

I'll go back to a story from a couple days ago and say, it's not Obama's fault. This has been coming for 40 years, Obama just inheritted it. But he's giving mezmorizing speeches to get us out of it. We've been patching and trying to work around and programming, but the bottom line is there isn't enough for everyone in the land of the plenty anymore since we don't make anything anymore. Thank you China, Mexico, and former President Clinton for US industy's ability to not make anything here anymore.

Now THAT's funny!

With the same old Congress in place through both of them.

People should be beating my door down now to get me to work on thier homes too...nope, just my sister-in-law on the phone.

Yes, Unemployment is a lagging indicator.

But our National Debt continues to grow, we are showing no growth in the private or public sectors. The stock market remains low and shows no great gains (small ones look ok, but no real major gains). The Fed is doing all it can to keep the consumer price index where it is instead of watching it drop like a brick (because yes, this is a time for deflation...but with the minimum wage were it is, mass deflation would definately force us into a depression because companies would not be able to pay wages). Let's not forget that the housing market still hasn't seen any real growth since houses are on the market and not moving at any improved rate.

Yes, Unemployment is a lagging indicator...but with the way things look, it's a lagging indicator that we are heading for something worse.

Recession doesn't mean things are bad, it means things are getting worse. Things are still bad. They're not getting worse.