Monday, December 14, 2009

The recession is over; long live the recession!

Summers: Recession Over, Job Growth By Spring

The President’s top economic advisor, Larry Summers, told me that “by spring employment growth will start turning positive.”

During my "This Week" interview, Summers said that “everybody agrees that the recession is over,” but he did not say when the unemployment rate could be expected to drop further.

The unemployment rate dipped last month to 10 percent from a peak of 10.2 percent. Many private economists, like Moody’s Mark Zandi, predict unemployment will climb through the third quarter of next year to 10.6 percent.

Romer: Of course recession isn't over

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