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Wells Fargo economists say '09 will see end to economic recession
December 22, 2008
San Francisco Business Times:Economists at Wells Fargo say they expect the economic recession — which now rivals the recession of the 1930s — to end during the second half of 2009. The third quarter of next year will be "better than expected" by many, says chief investment strategist Jim Paulsen, despite the job market, which is now one of the worst in decades, with another 3.7 million jobs expected to be lost next year. That means 5.5 million jobs will be lost in this recession, twice as many as were lost in the 1981-1982 recession, the second worst since World War II.
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