National Bureau of Economic Research,an organation which whom is responsible for dating changes in the U.S. business cycle, found that although the Recession that struck the US in 2007 has ended, the economy still has many visible weaknesses.The NBER research shows that"replacing the net worth lost during the downturn and the deleveraging of debt levels is likely to restrict domestic U.S. demand for the next few years." The Organization for Economic Cooperation and Development believes the inflated U.S. unemployment rate is "unlikely to return to precrisis levels for at least three years."The OECD confirms that the recent economic downturn could result in a permanently higher level of unemployment.
This article is worth reading because it shows how far our economy has come, but also how far we are from our goal.
http://online.wsj.com/article/SB10001424052748703989304575503691644231892.html
Recession Ruled Dead, but U.S. Still Haunted
