We would like a parade, please. If the recession is technically over, as determined by the arbiter of these things (the Business Cycle Dating Committee, of course), why isn’t there champagne and confetti in the streets?
We’re All Extremely Doubtful
Because we’re all more than a little skeptical. Just because a press release determines the recession to be over—we were sick of it, anyway—doesn’t change our everyday lives. It doesn’t employ people. It doesn’t reverse foreclosures. It doesn’t restore our retirement savings or our children’s college funds. The National Bureau of Economic Research may have capped the recession at 18 months (the longest recession since WWII), but that’s a date for the textbooks more than the calendar.
End Of Recession, But Not Joblessness
According to the New York Times, the American economy has “lost more jobs than it has added since the recovery began a year ago.” Wait, what? How is that a recovery? Apparently, since our total output as a country has increased, we’re recovering—while walking on eggshells to avoid a double-dip recession. And the general prognosis is the same one heard in rehabilitation centers across the country: It will get worse before it gets better.
What Do We Do Now?
So we’ll keep on keeping on. We’ll guard our retirement accounts with our lives and value the jobs we have—or search for the jobs we need. We’ll eat in and postpone that holiday trip. Because all we can do, as the powers that be set official dates and make grandiose announcements, is take care of ourselves. As financially independent, confident women, we can handle it… and wait for our parade.
Tell us in the comments: Does the end-of-recession announcement make you happy or frustrated?