Corporate Finance & Governance | Leadership / Management

Recession: Lots of worries … and a little silver lining

RecessionEconomists are saying it. Americans are believing it. Politicians are spinning it. There's no escaping the talk of a possible recession these days.

Still, it's not all gloom and doom out there. At least that's what Dr. Anirban Basu says. Basu is CEO of the Sage Policy Group and one of Maryland's most renowned and respected economists. In a recent article in the Statement, the MACPA's member magazine, Basu says "there are still some good things about the U.S. economy, and they are worth mentioning. "

For starters, there's the unemployment rate. Sure, the most recent figures show it rose to 5.1 percent in March, the third straight month in which the rate has risen. But in an article titled "The economy: Things are not as they ought to be," Basu writes that 5 percent unemployment is "a level consistent with full employment" and that most of the mid-Atlantic region -- including Maryland -- continues to clock in well below the national average.

That said, there's still lots to be worried about, says Basu, including inflation, the rising cost of oil, the ongoing housing mess and the weakness of the dollar. He believes Maryland will add between 10,000 and 20,000 jobs in 2008, which would represent the state's "worst performance in several years."

It's hard to find a silver lining in all of our economic woes these days, but Tom Hood has a few ideas that might help. Read his earlier post titled, "Top three ways to beat a recession."

How is your organization responding to the economic downturn?


Bill Sheridan