Lawrence Summers: “The Recession Is Over”
President Obama’s top economic adviser, Lawrence Summers, Director of the National Economic Council, appeared on “This Week” and pronoucned the end of the recession.
Summers: First GDP goes up. That’s happened. Then hours that are worked by workers who already have jobs go up. That’s starting to happen. Then employment starts to happen. We got very close to that this year–this month–with only 11,000 jobs lost, and then unemployment starts to come down.
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