January 13, 2009

Quarterly Economic Update January 2009

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This month the National Bureau of Economic Research dating committee officially listed December 2007 as the start of the current recession due to weakness in labor and consumer markets. As the unemployment rate inches up to 6.5% workers may receive a little comfort from sinking gasoline prices, but they still wonder how long this period will last and how severe it will become. Taking cues from economic indicator data and other forecasts, Dr. Bruce Yandle will provide perspective on the latest economic trends in a way that is understandable to the economist and non-economist alike. This “birds-eye-view” of the economy will be valuable to staffers interested in promoting policies intended to aid economic performance.

Topics to be discussed shall include:

  • Is it possible to predict the length and severity of a recession?
  • How can we tell which states or regions may fare better or worse in a recession?
  • Should we be glad to see lower gasoline prices and what does the dramatic shift from the summer mean for the economy?