The recession is definitely over.

This is a graph of an econometric forecasting model that predicts the probability that we are currently in a recession (a so-called Markov model). Not, not much chance here today. For a complete listing of the probabilities of being in Recession for every month from 1967:02-2010:12 here is the excel spread sheet:
http://www.funnyeconomist.com/Probabilities.xls

Tip o' the hat to Dr. Rothman and Dr. Jeremy Piger at University of Oregon.

Recent U.S. Recession Probabilities
Probability of Recession
July 2009
17.2%
August 2009
8.7%
September 2009
6.8%
October 2009
5.4%
November 2009
4.3%
December 2009
4.2%