Home Poll wrap-up blog The OB Poll: The recession isn't over

The OB Poll: The recession isn't over

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Poll wrap-up
Thursday, November 05, 2009
It really doesn’t matter if the GDP, the local economist, the national pundits or your barber is telling you the recession is over. Most of you don’t think it is. In our latest poll, over 60% of the respondents said they don’t believe the recession is over.

"I think the recession is over," UO economist Tim Duy told the Oregonian this week, while “gazing past his young daughter … into sparkling waves off Hawaii.”

Nice work if you can get it, but many Oregonians can’t find a job and the state’s unemployment is among the highest in the nation. Duy and others also like to call this a jobless recovery.

Some think it cannot be a recovery until jobs return.

Ed Ray, OSU president and an economist, wrote in an opinion piece: “Recovery appears to be taking hold. But then came news that by now must seem familiar to many Oregonians, who have heard it many times following periods of economic difficulty: Oregon's portion of the recovery will take a while. And don't expect many jobs to accompany it… Why?”

Oregonians aren’t the only ones to feel the recession hasn’t receded.

The International labor Organization this week questioned whether the recession was really over since wages continued to drop. In a statement issued Tuesday, the ILO said real wages worldwide declined for a second year in a row. The ILO said it expected wages to slide even further in 2009. In the first quarter of the year alone, real monthly wages sagged in half of the 35 countries that submitted data, compared to their average in 2008.

Summed up Chicago Sun-Times columnist Terry Savage recently: “The American public is starting to get more than mildly annoyed at those who tell them the economy is bouncing back.”

 

Comments   

 
Rick Creson
0 #1 Super LagRick Creson 2009-11-06 13:35:36
It is a fact that in some recessions, employment continues to lag as GDP increases. However, if we see a significant lag (which may occur since all spending is government directed)and we get a double dip recession, which appears reasonable, then hold on. We will be in for a nasty ride.
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thinking forward
0 #2 thinking forward 2009-11-06 15:46:05
Very ineresting the "Government Class" think the recession is over!
U of O, OSU Statists once again blinded by the cacoon they live in.
Ask the massive unemployed how they feel about the great turnaround.
When the healthcare bill arrives we will all be be shocked. GM, Chrysler,The Banks,Healthcar e,Cap & Trade, Global Warming! "Insanity has taken over" Is the change you wanted?
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Ken H
0 #3 Buy USA MadeKen H 2009-11-07 08:57:26
To create jobs here all we have to do is stop buying all the foreign made products. Only buy USA made. Think about how much we support other countries.
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