Friday, November 6, 2009

Is the US economy back in a recovery phase?

According to BEA’s “advance” estimate, the economy grew at an annual rate of 3.5% during 2009 Q3, up from the observed annual growth rate of -0.7% in 2009 Q2. Yet, the unemployment rate grew over the second quarter, from 9.5% in June to 9.8% in September. In addition, BLS just announced that the unemployment rate during October increased to 10.2%.  Would someone call this a "jobless recovery"?

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