US Already a Year Into Recession: Economists

Non-traditional measurement based on employment, other statistics
By Kevin Spak,  Newser Staff
Posted Dec 1, 2008 12:51 PM CST
According to a batch of economic indicators, a group of economists has declared the US to be in a recession.   (Shutterstock)
camera-icon View 2 more images

(Newser) – The US economy has been in a recession since employment peaked in December 2007, a committee of economists declared today. However, MarketWatch notes, the private National Bureau of Economic Research rejects the traditional metric that recession is defined as consecutive quarters of GDP decline, opting instead to look at four key monthly indicators, including employment, industrial output, and sales.