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But the First "V" Was So Much Better

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Via the Business Insider: "A report from the Congressional Budget Office (CBO) forecasts that U.S. unemployment won't break below 8% until some time during 2012. The main reason is that they don't expect the steep V-shaped recovery characteristic of normal recessions. Yes the economy is recovering, but it will take years before things are normal again." This theory could hold true given how deeply employers cut. Is it happy hour yet? [BI/NYTM]