Although, equally the suspicion persists that such an assertion is merely a false dawn (as per the idea of a double-dip ‘W’ shaped-crisis). Clearly, the jury is still out on this matter. Rosier boardroom balance sheets do not mean things are improving at the street-level. On the contrary, in many of the OECD economies the general trend is toward growing unemployment; a trend that looks destined to continue for the foreseeable future. This spells further hardship for the poor and working-poor throughout the affected world. One conclusion that can be made for certain, is the continued relevance of social security as an important form of social intervention not just as an emergency response mechanism to the crisis, but also a force integral to the smooth functioning of society.

Sources

Le Monde, 13.08.2009. Edito du Monde

The Financial Times, 16.09.2009. Recession Likely over in US , says Bernanke. www.ft.com/cms/s/0/52223872-a259-11de-9caa-00144feabdc0.html

The Financial Times, 16.09.2009. UK is Emerging from Recession , say economists. www.ft.com/cms/s/0/00550ca8-9cd8-11de-ab58-00144feabdc0.html

The Economist, 20.08.2009. U, V or W for recovery: The world economy has stopped shrinking. That’s the end of the good news. www.economist.com/opinion/displaystory.cfm?story_id=14258893

Le Figaro, 17.09.2009. Somavia : «L'emploi doit être au rendez-vous de la reprise» www.lefigaro.fr/economie/2009/09/17/04001-20090917ARTFIG00008-juan-somavia-l-emploi-doit-etre-au-rendez-vous-de-la-reprise-.php

The Guardian, 14.09.2009. End of Recession? Not for the Unemployed. www.guardian.co.uk/business/2009/sep/14/unemployment-figures-recession

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