LC Bulletin: Climbing out of a recession

September 25, 2009. Retrieved online October 2, 2009 from GABRIEL VASQUEZ, Las Cruces Bulletin

Confidence returning, but recovery still slow

“Federal Reserve Chairman Ben Bernanke said Tuesday, Sept. 15, that the economy is “very likely” out of the worst recession since the 1930s.

He also warned that unemployment would remain high for some time to come.

Tony Popp, department head and professor of economics at New Mexico State University, said for the most part, he agrees with Bernanke.

“The economy now is not getting any worse, but the question is, how fast until it gets better?” Popp said. “We’re at the bottom, at least, we hope we’re at the bottom. But we didn’t enter into a local recession for about six months after the national economy, so we’re going to lag in getting out.”

How long until the “average Joe” notices the effects of the recession’s end is anyone’s guess, said NMSU business professor Chris Erickson.”

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