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Recession ended in June 2009

This is old news. Using the 4-week moving average of weekly unemployment claims, Jim Hamilton and Bob Gordon, among others, had predicted the end of recession more than a year ago. 

This just came as a late confirmation.  Nothing surprising here. Obviously, NBER this time did not put so much emphasis on employment, because the labor market is still terrible.

http://s.wsj.net/public/resources/images/OB-KC165_GDP_E_20100920115840.jpg

(source: WSJ)


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