The USA is not in recession. You and I both know that.
The USA is also not at record unemployment levels. Vitually the reverse. Participation rates in the States are also nearer 67% (and continuously so, since mid-1996) whereas ours are still sub-65%.
So, from where have you drawn your conclusions?
And inflation (measured by CPI) has risen 0.6% for the month (+0.1% at the "core").
You should really take time out to read the National (and International) Economic Trends (amongst others), published monthly by The Federal Reserve Bank of St Louis (by subscription, monthly, in the mail, or over the internet - mine comes by mail).
Unemployment is now back sub-6.0% (last reached in November, and before that, in April).
Unemployment peaked near 11% in late 1982, and was continuously at, or above, 6% from at least 1977 through to mid-87. It very briefly dropped through to 5.9% in mid-1979, and then dropped below 6% in mid-1987, through to mid-1990. Thereafter, it was above 6% through to mid-1994, following which it dropped through to the recent broad-based low of 4% (December 2000).
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