Does the recession feel over to you?

On Wednesday, the Federal Reserve said economic activity is leveling out and conditions in financial markets have improved, signaling an ending to the recession. The Fed reported that consumer spending is stabilizing despite continued job losses and tight credit. Two years after it began, does the recession feel over to you?

The recession may look like it is over – but if unemployment raises over the next year and on, then Recession is certainly not over -Laxmi

No, my business is on a sliding scale and although my volume has stayed high, the avg price people pay has gone down over the last few months. -anonymous text message

If the first plunge of recession was initiated by subprime mortgages, the commercial mortgage collapse may provide a profound second dip. -Kevin, New York, NY

The recession doesn’t feel over to me. I am facing a layoff from North Memorial Medical Center. -Allison, St. Paul, MN

Seems to be just beginning in my world… -Bonnie Russ

I can see a few signs of improvement, but it will take a long time for that to trickle down to most of us. I had to relocate to a different state to keep my job. When I can sell the house at the old location I will feel a little more secure and not wonder every day if I make the right choice, then I will feel like we are making progress. -Debi Cox

I think the effects of the recession are multiplying for some of us. Cripes. -Edward J Curran

  • donna

    It doesn’t seem over, but not as scary as it was earlier. I think we’re in the middle of it, but it now feels like we can pull together and make it out.

  • Mike

    No. I work as an engineer in the construction industry where we are dependent on housing starts and government spending, which are both down. Until housing starts reach previous levels and government spending – especially at the state level – increases, it will be hard for me to see the recession as being over.

  • Al

    No it doesn’t feel over. The recovery will be slow because job growth will be slow. A number of US companies used the recession to layoff American workers and close US plants, and are choosing to meet rising demand by hiring and opening plants overseas.

  • The recession is far from over. The government as usual puts more reliance on what people who have no idea what is going on that on the people of this country. The same type of people claiming we out are the same ones who are a major cause of this financial cluster. When people are not losing their homes, retaining and keeping jobs we might see a glimmer of light, but as long as the government is more interested in letting the people of this country rot and fail while bailing out big business we are doomed.

  • Lisa

    Recession over? You’ve got to be kidding. I would be surprised if the numbers indicate that we are bottoming out and that things can’t get any worse. If I can’t find a job in the next few months I may find myself in foreclosure. As I don’t have anyone to move in with nor any more resources to fall back on, this is just a little scary.

    LR

  • AJ

    I am not ready for it to be over yet. There are too many sales, specials and deals that I haven’t taken advantage of yet. My wife and I go out for drinks or dinner more often now than we did before this started. When the deals go away, the recession will be over.

  • Jennifer

    The recession is in no way over for goverment employees. My husband works for a city government and I am a high school teacher. Our employers are on two year budget cycles with the state so our recession won’t end until the state budget is revisited in 2011.

  • Dan

    When they stop laying off workers is when the recession will be over. The unemployment rate is too high for the recession to be over.

  • Joe Schaedler

    The recession sure doesn’t feel over to my 401k, which is about half of what it was a year ago.

  • Richard Deardoff

    My wife’s deli and tea room – which has survived 70 years – is going out of business next month. As a teacher we have not rec’d a raise this year and there is no money in the county for building maintenance. No, it’s not over.

  • I’ve been looking for work for almost a year now. There are almost ten times as many jobs advertised right now as there were this spring- I’m sure there are still a lot of people applying to those positions, but at least there are jobs opening up now. I think we’re seeing the light at the end of the tunnel.

  • Peter Azzi

    Being heavily invested, and continuing to invest throught the “scare,” my bottom line has improved significantly. Losses still abound, but realative to 5 months ago, it sure feels a lot better. My wife and I have both experienced downward/stagnant pressure on wages, but that is part of the recovery. In addition, prices of goods and services are not rising, so yes, the recession feels over, as the recovery (hopefully) has begun. There is still however, risks, but there are always risks.

  • Bill

    Absolutely not, nor will it “feel” over until all the lagging indicators have caught up (i.e. employment and the housing/construction market). I expect it will be at least another 12 months before it “feels” over for the average American. Those securely in jobs or living off of old wealth, whose only reaction to the recession is excitement over all the “deals” and the investment opportunities in the stock market, never really felt the recession in the first place.

  • Greg Toltzman

    I think we need to adjust our expectations. In my opinion, the economy is stabilized. Those that think the recession is over only when consumer spending is back to previous levels are going to be waiting a long time. Remember that exuberant spending was part of the cause of the recession in the first place. Our best bet for a real recovery is slow sustainable growth.

  • Ben Barthell

    Well of course not, as long as people are afraid of losing jobs and roughly 10% ( more like 25% if you do a real count) unemployment rate, no one is going to buy stuff. That said, Its time for new ideas. People need to stop buying stuff they don’t need, people really need to start taking care of themselves emotionally, physically and intellectually, people need to take control of their lives and ecosystem they lead. This might lead to the demise of the “big box”, big pharma, big bank, big this and big that, and bring Wall Street to its knees. Would that really be so bad? Sure it would initially hurt, but have a conversation with an unprepared, unemployed person that is a literally circling the drain and hurt doesn’t even begin to describe the current state of where we are headed.

  • Joy

    No, the recession is not over for me. I cannot find a job that pays more than $11 an hour and forget about full-time or benefits. And that’s with an Ivy League degree. Savings depleted paying health insurance premiums and health care not covered by so-called insurance. Cobbling together low-paying no-benefits part-time jobs appears to be only way to survive. Thinking of moving overseas.

  • Peter Azzi

    Yeah, watching my protfolio drop 45% totally did not feel like a recession. And what is “old money.” It’s called saving and investing, not spending every cent on cool cars, vacations, and debt maintenance. When you have savings, you can take advantage of tremendous opportunites like we are currently in.

  • Marion

    No, I don’t think the recession is over. I am scared to hear that professional people who have a degree are having a hard time finding jobs. They would be taking the jobs away from other less qualified people or they would not get any jobs. Also I feel scared to hear of everyone with Foreclosures. If you have a foreclosure of a home, what are the chances you will be approved for other loans.

  • I will feel the recession is over when my daughter’s father gets a job and starts paying child support! He is the “lowest” on the totem pole of people who can get jobs, so that will be a real sign.

  • Anne

    Not by a long shot! I have friends who have been looking for work for most of a year, friends who have lost their homes, rental neighbors who are moving out of their homes here to stay with family in other states until they can find jobs, neighbors who are walking away from homes they own because they can’t afford the payments since they lost their jobs. One of my brothers is trying to support his family with paper routes while looking for steady work and his wife just lost her job. My sister’s hours have been cut and her husband has been out of work for months. If we are lucky, the recession is slowing down, but I think we have a lot further to go before we can say anything positive about the economy now.

  • Robert

    Does it even matter? The official definition of “recession” is not one that really matters to most people. The investor class is mostly interested in their stock prices, and sees unemployment as a minor indictator.

    It’s the opposite for most people. For most of us, unemployment is the #1 indicator, and things like the stock market are minor indicators. We’re told “spend! spend! spend!” to stimulate the econony, but when we get laid off, the message is “why in the world did you spend?” For most Americans, a jobless recovery is no recovery at all.

    The message should be “hire! hire! hire!” Every business wants people to spend. But people are reluctant to spend if they aren’t certain that they will have a job the next day. If all businesses were to hire, the recession would be over nearly immediately. Here we have a Catch-22: If all businesses hire, the econony will do well, and they won’t need me to hire anyone, so I can save money by not hiring. But if other businesses aren’t hiring, why should I stick my neck out?

    If we can put Americans back to work, the recession ends. But who wants to be the first to start hiring?

  • kennedy

    Do we call it 10% unemployment or 90% employment? Many previous posts mention the woes of the “average” american. Well, most people who want work have it. Salaries are generally lower than we’d expect. We are worried about losing our jobs as that has been happening around us for almost two years. It’s too bad the “average” american had such a dismal savings rate going into this. Money in the bank would sure brighten our outlook as opposed to living paycheck to paycheck and feeding multiple debts.