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Chris Farrell, Minnesota Public Radio chief economics correspondent tells about 200 MPR supporters Thursday night in Bemidji that the recession probably ended this summer, but that the future holds a jobless recovery. Pioneer Photo/Brad Swenson

MPR's Chris Farrell: Recession over, look for jobless recovery

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Most economists agree the recession ended in July, but don't count on a quick recovery.

"We sort of teetered on the precipice of a Great Depression," Chris Farrell, Minnesota Public Radio chief economics correspondent, said Thursday night in Bemidji.

"Thanks to extraordinary efforts by the Federal Reserve, a bank bailout, an unprecedented federal stimulus, and a number of other actions and not just here but around the world, we averted a Great Depression," he said.

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