Large number of people still feeling the recession

10.26.09
By Nicholas Storie

As consumers continue to try and find debt relief, a recent poll shows many of them do not feel the recession is over.

According to an ABC News/Washington Post survey, 82 percent of respondents felt the recession is not over. This is despite the fact that many economists are saying that indicators show that the worst recession the country has faced since World War II has probably come to an end.

"From the public's perspective, the rumors of economic recovery are greatly exaggerated," a report from the news organizations stated.

The news organizations noted that a number of factors play into how the public sees the recession. For example, unemployment and home foreclosure experienced by people are probably leading them to feel as though the recession is ongoing.

The unemployment rate in the country is at 9.8 percent, and many analysts expect it to climb beyond 10 percent. Furthermore, RealtyTrac reported that home foreclosure filings climbed by 5 percent during the third quarter of 2009 when compared to the previous quarter. Foreclosures are up by 23 percent over the third quarter of 2008.

More Personal Finance Articles | News Home | Discuss in our Forum

Despite what ecnomists may think, problems with debt are making people feel like the recession is still here.