The Chronicle business section picked up an LA Times story on the sorts of raises workers might expect next year.
The following line made it into the story:
The salary increases reflect a continuing push by corporations to control costs after the reversals many experienced during the 2001 recession, said Charles Peck, a compensation specialist at the Conference Board, a New York business research organization.
For many years, economists commonly defined a recession in terms of two or more consecutive quarters of declining GDP. By that standard, there was no recession in 2001.
