"The NBER is a private group of leading economists charged with dating the start and end of economic downturns. It typically takes a long time after the start of a recession to declare its start because of the need to look at final readings of various economic measures.Interesting. Earlier than I would have guessed.
'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."
Read More...
[Source: FinanceProfessor.com]
No comments:
Post a Comment