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01:24AM (15 mins delay)
Nov 06, 2009 - 4:20 AM EST
The 2001 recession began in March of that year and ended eight months later in November. The unemployment rate, however, continued to climb through 2002, finally peaking at 6.3% in September of 2003, some 22 months after the official end of the recession.
In four of the last five recessions the peak in unemployment claims has led or lagged the trough period of the recession by about one month but the unemployment rate continued to rise, as we saw in the 2001 recovery, and as we are seeing with current data. (This does not make Thursday’s claims numbers anything on which to hang a rally hat.)
Source: Seeking Alpha (Nov 06, 2009 - 4:20 AM EST)
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