When the National Bureau of Economic Research proclaimed that the recession is over, not many people believed them. After all, unemployment still stands at levels we haven’t seen for many years – and very few businesses predict they will do much hiring in the near future. But looking only at GDP (the sum of all goods and services made in the economy) it appears that somewhere around June 2009 we started having positive economic growth.
That’s great, as far as it goes, but what does it take to create jobs? Running a little regression or two can give you a few potential answers – and none of them look all that good right now.