Economic panel declares recession over

NEW BRUNSWICK - The National Bureau of Economic Research has announced that the recession officially ended in June 2009.

The non-profit organization says the recession lasted 18 months, making it the longest recession since World War II.

Many New Jersey residents say they disagree with the announcement and that they still feel the effects of the recession today.

Economist James W. Hughes, of Rutgers University, says the group that determines when recessions begin and end does so based on national data such as the gross domestic product, employment and income. He says the official end to the recession doesn't mean an end to the economic problems that came along with it.

advertisement | advertise on News 12

Trending Video

From left to right: New Jersey State Trooper 1 New Jersey state troopers help deliver baby on I-287
The Pascack Valley High School girls lacrosse team 2 HS lacrosse team 'adopts' 8-year-old fighting brain cancer
An Amtrak power problem in one of the 3 More headaches for LIRR riders after Amtrak power problem
News 12 New Jersey - Weather On The 4 New Jersey Weather Forecast
Sea Cliff's Troy Ramey was voted off 'The 5 Elisa's Entertainment for 4/26

advertisement | advertise on News 12


It's good to know you have Walt Kane Kane in Your Corner

It's good to know you have Walt Kane in your corner.

News 12 takes a look at the hottest Tech Check

Eric Landskroner has a look at the latest gadgets and biggest stories in tech.

News 12 On the Scene

Check out these exclusive videos from New Jersey celebs!

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.