As an update to the What Recession? post here in May, here are the latest figures. U.S. GDP grew 1.9% in the second quarter, so once again, we are not technically in a recession. On the other hand, the overall unemployment rate spiked upward to 5.7%; not catastrophic, but clearly disturbing. Still, these two numbers taken together may signal a positive trend. Second quarter GDP growth increased over the first quarter, which had in turn increased over the fourth quarter of 2007. And the last time the unemployment rate was this high was...March, 2004—well after the end of the last recession. In other words, the unemployment rate tends to be a lagging indicator. The fact that the jobless rate is now at a peak, while GDP growth is accelerating, may signal the end of a relatively modest recession. Of course, the policy choices of the new administration after November could swing things in either direction. But for marketers, at least one measure—the MarketingSherpa Career Classified...
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