CNN reports: The U.S. entered a recession in December 2007, according to the National Bureau of Economic Research.

Duh.  Really?  I think anyone could tell you that.

“The committee views the payroll employment measure, which is based on a large survey of employers, as the most reliable comprehensive estimate of employment,” said the group’s statement. “This series reached a peak in December 2007 and has declined every month since then.”

Employers have trimmed payrolls by 1.2 million jobs in the first 10 months of this year. On Friday, economists are predicting the government will report a loss of another 325,000 jobs for November.

That’s a big loss in November but I know personally of people who have been laid off so it doesn’t suprise me.

Tags: economy, Politics, recession, us
Posted in news |

This entry was posted on Monday, December 1st, 2008 at 12:29 pm and is filed under news. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.