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A recovery that doesn't feel like one

Business Times - 25 Sep 2010


A recovery that doesn't feel like one

The US recession is over. In fact, the economy has been growing since June 2009. That's according to the US National Bureau of Economic Research. But for many Americans it is difficult to talk about a recovery when unemployment remains high, when incomes are not rising and may even be falling and when the housing market is not getting any better.

By LEON HADAR
WASHINGTON CORRESPONDENT

MOST Americans may not have noticed, but the Great Recession ended over a year ago.

Say what? Yep. The most devastating economic downturn since the Great Depression is over. It was brought to an end in June 2009, 18 months after it began.

Says who? The US National Bureau of Economic Research (NBER) announced this week that, based on its calculation of the broadest measures of economic activity, such as gross domestic product (GDP), hirings and layoffs, and personal income, the US economy has done plunging.

The recession is over, la …