News and commentary

Where's the Second Half Recovery?

By Richard Suttmeier
Updated: Friday, September 05 2008 08:09:AM

NonFarm Payrolls declined 84,000 in August, and June and July were revised down another 58,000 in total. The Unemployment Rate rose to 6.1% from 5.7%. This rate was 4.7% at the beginning of the year.

The economy has lost jobs in every month of 2008. The Fiscal Stimulus Package was supposed to add 500,000 new jobs. Instead the economy has lost about 600,000 jobs year to date.

My Recession Prediction - Between inauguration and the end of January, The National Bureau of Economic Research, the official arbiter of when a recession begins, will declare that we are in one.