Quick Takes | Budget, Taxes, and Public Investment

Recession is over, but not the unemployment crisis

Today the National Bureau of Economic Research determined that the recession officially ended in June 2009. While this statement was in line with expectations, it should be remembered that the unemployment rate in June of 2009 stood at 9.5%.
In August of 2010, a full 14 months later, the unemployment rate was 9.6%. The recession may be over, but the real work of recovery has just begun. –Josh Bivens