Yes it is “pretty clear” that the recession is over. It must be true. I read it in the Philadelphia Inquirer. It was on the back page of the business section. It would have been on the front page of the newspaper but the Eagles traded Donovan McNabb to the Redskins and that took up the entire front page. But seriously this is good news. Robert Hall the head of the National Bureau of Economic Research’s Business Cycle Dating Committee said that the Fridays biggest increase in employment over the past three years provides a “pretty clear” picture that the deepest recession since the Great Depression has ended. According to Hall he “personally puts a lot of emphasis on employment”
According to the Bureaus web site payrolls is a “top indicator”. If you add the 162,000 new jobs and the upgraded February numbers of 62,000 the newly revised 224,000 new jobs was “great news that employment had finally stopped shrinking” according to Hall. Another panel member. Jeffrey Frankel said “speaking personally, it now seems very clear that the recession has ended.”
Spread the news so that possibly this gets to the front page of a newspaper near you. If the buying public were made aware confidence would rise and the real estate industry would be healthy again.