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US has gone to Recession - Its Official Now
- Filed under: Economic Data, Stock Market Crash, World Market, economy growth
- Date: Dec 1,2008
No more thinking of using the R word , everyone will just use this single word from now on , Its official that US has gone into recession.National Bureau of Economic Research declared that America has gone into recession for some time now.When i say sometime its almost a year now from December 2007. Its they have to analyze the data and finally come out with the result and with the employment data they have Employers have trimmed payrolls by 1.2 million jobs in the first 10 months of this year.They are expecting another 350000 job loss for remaining year may be so finally 1.5 million jobs for this year alone.One good news is like when you compare the recession data before US is almost in the time to come out of it .We will see how many more month they need to come out of recession.The market already has responded to this.
Source: CNN