Simply Hired Blog: It’s official: an economic recession

The National Bureau of Economic Research (NBER) came out with an official statement yesterday, declaring the United States to have been in an economic recession since December 2007. The Business Cycle Dating Committee, which keeps a record of U.S. economic recession start and end dates, deemed the economic peak in December 2007 and subsequent declining economic activity since then (main measures of the committee are domestic production and employment) a significant enough time lapse to be labeled a recession.

Despite this statement and news of layoffs at different companies, there are still millions of jobs to go around–Simply Hired has 3.5 million job listings in the U.S. alone. Job searches that involve social networking have been increasing since last year, including MySpace and Facebook which had spikes in numbers at the beginning of 2008.