First Person: Working or not, recession isn't over

BW Flag
The National Bureau of Economic Research (NBER) may have declared the recession that commenced in late 2007 to be over 15 months ago; but if unemployment statistics are any indication, it's likely that a healthy chunk of Americans disagree. Count me among them.

In August, the Bureau of Labor Statistics recorded a national unemployment rate of 9.6 percent; and while it's a positive reduction since the agency reported 10.2 percent last November, it seems reasonable to conclude that those who remain jobless are hardly calling for a tickertape parade.

As for unemployment statistics by state, my home state of California almost takes the cake with 12.4 percent unemployment, the second highest in the nation. As for my first-person experience, I'll fully disclose that I am not unemployed nor is my spouse.

Regardless, we're among the scores of Americans who beg to differ with the proclamation that the recession is over. Why?

To start, it's because as a self-employed B2B service provider, I find myself receiving less business with each passing month. Not because my services aren't in demand, and not because my prices aren't reasonable (in both cases, they are). Instead, it's because a large portion of my clientele is suffering themselves, and they can no longer afford my services as an investment in their businesses. In short, it's a domino effect.

In the case of my spouse, he's currently subject to multiple furlough days per month, a major increase in benefit costs that only stand to go up more as increments of recent health care legislation take effect, and open-ended IOUs for dozens of overtime hours worked over the past year.

No one needs to tell me to quit whining (commenters, that's for you). Yes, I'm very thankful that we're working. But like many of you, I take issue with the U.S. Department of Labor telling those who aren't working -- and those who are -- that the recession that continues to dictate the most basic of our daily behaviors is long gone. After all, most of us will ride out the remainder of this year (and most likely the next) not much further ahead than we were when the end was declared.

Published by BW Flag

Freelance... Small Business Copywriter, Big Business Reporter, Amateur Political Commentator  View profile

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