andyetf

Posts Tagged ‘job loss’

The Recession May Be Over But Where Is The Recovery?

In Uncategorized on September 23, 2010 at 9:37 am

The recssion of 2007-2009 is officially over. It was the longest recession in 50 years. The economy lost more jobs during this recession than during any other recession since the depression. Unemployment is at its highest level since World War II, if you include people working part-time who wish to work full-time and those who have given up looking for work.

But for many people the recovery has not started. The enconomy has lost more jobs than it has added since June 2009 when the recovery began. And the outlook for job creation remains bleak. Many economists estimate that job growth seems likely to stagnate or grow worse in the near future.

People’s need for protection from creditors has never been greater. Loss of income remains the biggest reason for people to file for bankruptcy protection.