Syracuse (WSYR-TV) - With more people losing their jobs every week, it may be hard to believe that things are on the mend. The unemployment numbers, however, do show that things are on the way back up.
Many economists think the recession ended in the third quarter of this year. For many of us who see the unemployment rate at 10%, though, it may not feel like it.
It is only when you take a closer look at the numbers that you see we may be out of recession. Looking at all the recessions between 1980, and the most current, we see they all have similar patterns in unemployment claims. They all saw a big spike up at the start, and then a drop off at the peak of the recession. This pattern has been standard in every recession.
The good news is that even though people are continuing to file claims, the numbers are beginning to drop off and match the patterns of previous recessions. So even though people continue to file jobless claims, this would indicate that we’re on our way out of the recession.
