The recession won’t be over till people get back to work
The next time someone says the “recession is over,” ask them exactly what they mean. Because it’s increasingly clear that it means different things to different people. And it’s equally clear it doesn’t usually mean that the unemployment crisis is over.
Many economists, politicians, journalists, and corporate executives are now fervently repeating the mantras “recovery” and “recession is over.” But what they mean is almost always that some indicator of economic growth is either not falling as quickly as it was last month or that growth of some sort has actually increased, even if very slightly.
Click here for the full text from the Canadian Centre for Policy Alternatives.
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