Added by Monique Robinson on September 22, 2010
The NBER (National Bureau of Economic Research) has stated on Monday that the recession ended in June, 2009, becoming the longest recession since the Great Depression of the 1930s. The NBER bureau further added that its statement did not indicate the comeback of economy to function at its normal capacity and cautioned that this normal capacity of economic activity can go below than normal while into its expansion state.
President Barack Obama addressed that the official end of the recession in the United States does not indicate any changes to the harsh reality that many US citizens are still experiencing. He further added that economists may consider the official ending of the economic downturn this year, but that there still there are millions of people without a job, home values are still declining and that efforts are being made by people to pay their bills every day.
For most people, the really shows that the recession isn’t over and as the November congressional elections are near, President Obama is under pressure to accelerate the process of downturn recovery and bring down the redundancy. U.S. government is trying its best to find a way to accelerate the slow-moving recovery that has left joblessness at an agonizingly high 9.6 percent.