NU Online News Service, Oct. 12, 2:08 p.m. EDT
ORLANDO, FLA--Federal Reserve Chairman Ben Bernanke declared that the recession is "very likely over," but the pace of recovery will be uneven across states and industries, according to a leading insurance industry economist.
Robert Hartwig, president of the New York-based Insurance Information Institute, referring to Chairman Bernanke's mid-September remarks suggesting that the recession very likely ended in June, said, "Don't tell that to the 10 percent of people that don't have a job today."
He spoke Friday at the annual meeting of the National Association of Professional Surplus Lines Offices, Ltd. during the Derek Hughes/NAPSLO Educational Foundation Lecture.
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