Moody's released their U.S. employment forecast last week, indicating that recovery is likely not coming until 2010 at the earliest. I guess the question though is what is recovery? When the bleeding stops? When jobs have started to grow once again? Or when the economy rebounds to some predetermined level? This article indicates that the U.S. has already had its worse quarter at the end of 2008, and Michigan is yet to experience its worse quarter in early 2009. But total jobs will not bottom out until the end of 2009. Information Systems is one of the more stable sectors according to this, at least in Michigan, as the worse is behind us and 2009 will remain flat.
This article however suggests a much longer road to recovery, with the economy shrinking and unemployment rising until 2011.