Sunday, September 26, 2010

So the Recession is over, now what?

Finally the recession is over. Actually it had been a year since it is done with but it was announced a few days ago. Hurrah, now what, do we feel ecstatic, jubilant or just plain puzzled since it does not feel that way. In fact fear is being aired that we may be heading to a double dip recession (meaning back to back). It does not feel the end of recession when the unemployment rate is still hovering around 10 percent (officially) and unofficially it is near 20 percent (if you count on the discouraged, the part times, the people in school, the out of benefits people, etc).

If the jobs are being created at a pathetic rate not even counting the population who is entering the labor force, the recession will linger on. People don’t really care what the officials are saying is the end of recession, if you don’t have a job and have applied all over the place and even with your best qualifications you are being shut out of the labor market (due to age discrimination or too many applicants) and if you have to uproot yourself and your family and move to a place where the jobs are and you are not sure if you are secure in that position, then the recession goes on.

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