WASHINGTON - Today,the National Bureau of Economic Research has officially stated that we are in fact in a recession,and have been in one since about December 2007. The NBER has said we may be in a recession until Mid-next year.
WHAT IS A RECESSION?
It is when...
jobs are being lost
businesses are closing
selling problems
stocks are going down
the economy is slowing down in times of usually high economic growth (e.g. Christmas,etc)
The last U.S. Recession was in 2002,which lasted a year. Other countries experiencing this recession are: UK,Japan,PRC/China,India,New Zealand,and EU/European Union Countries.
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