Telerion can correct me if I'm wrong, but it appears virtually certain to me that when the jobs numbers come out in January, they will tell a story of a recovering jobs market. The recession and most of its effects, at least in the US, is a thing of the past. Unemployment claims are now more than halfway from where they were at their nadir to where they would be in a booming economy with 4% unemployment.
I takes a while for people to get used to the idea that we're no longer in "tough economic times." I would say there's at least a 3-6 month lag between what's happening and what people think is happening.
But, don't be surprised is on New Year's Eve 2011, we're sitting here in the midst of a booming Worldwide economy and unemployment in the US is at 6% and falling.
Now, President Obama, it's time to work on that deficit.