More indication that the recession is over: The National Association of Business Economists has declared it to be so, following in the footsteps of Ben Bernanke. These people watch the economy - and especially how it affects the nation's corporations - as well as anyone, so their opinions are worth a little something. At the same time, it bears repeating that the recession is over when the GDP starts expanding again, and not when someone opines that the recession is over.
The economists' panel foresees a bit of a jobless recovery coming up: Like a lot of people they forecast it to hit 10 percent before it eases back down. The economists see unemployment as high as 9.5 percent by the end of 2010, a full year after the end of the recession. The jobless rate hasn't been that high since June of 1983 - about the same time frame after the end of the 1981-82 recession.
They do expect the housing market to be turning around, with housing starts expected to be up a solid 38 percent next year. But they see the dollar continuing to fall, remaining weak well into 2010.
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