The National Bureau of Economic Research on Monday declared that the U.S. is not only in a recession, but that it’s been in one since last December.
Massive layoffs over the past year are part of the reason that the NBER backdated the start of the current downturn — one of the longest since the 1930s.
– posted at 11:33 a.m. by Cathy Maestri
Monday, December 1, 2008
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