RICHMOND, VA (WWBT) - The economy grew at an annual pace of 3.5 percent pace in the third quarter -- its best showing in two years.
Some of the country's leading economists are ready to declare the recession over with.
But what economists compared to the reality on Main Street can be two different things.
Joining us to talk about the impact of the economic turnaround is Dr. David Brat, an economics professor at Randolph-Macon College.
Q: First professor, we use the term "recession" very loosely in our day to day conversation, but for economist it has a very specific definition correct?
Q: So even if at the "macro" level, things appear to be improving, does it take some time for that for every day people to benefit from the improvement?
Q: But despite all this pretty positive news, people still seem to be having trouble finding work and unemployment continues to hover close to that 10 percent mark. Even if the economy is growing, does it mean anything if people can't find work?