BLOOMBERG Street Smart January 3, 2014
Unimportant prerecession peak. Has beenng system recapitalized and the Financial System is safer. When the economy was in freefall in late 2008 and early 2009, such improvement was far from certain, as indicated at the time by stock prices that were nearly 60 below credit levels and very wide credit spreads. Despite this progress, the recovery clearly remains incomplete. At seven percent, the Unemployment Rate is still elevated. The number of longterm unemployed remains unusually high, and other measures of labor utilization have improved than the Unemployment Rate. Labor force participation c...