Sep 21, 2010
Stocks surged on Monday to a 4-month high on news that the great recession is officially over! The Dow jumped to 145 points close to 10,753 while Nasdaq closed to 40 points higher and S and P 500 gained 17 points.
According to the National Bureau of Economic Research, the great recession that started in December 2007 officially ended in June 2009. This 18-month economic crunch was longest and most severe downturn since the Great Depression that occurred in 1930.
The committee said that the economy hit bottom last summer but has been growing steadily ever since then.
If you are one looking for job then here is some good news. Retailers are planning to hire more manpower this holiday season.
According to an outplacement firm, the retailers are expected to hire 600,000 temporary workers. This is fewer than before recession but more than last year.
