What Is the Great Recession?
The official dates are December 2007 to June 2009: 18 months, the longest US recession since the Second World War.
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1.What are the official dates of the Great Recession?
The official dates are December 2007 to June 2009: 18 months, the longest US recession since the Second World War.
2.How did US unemployment change in less than two years?
Unemployment rose from 5.0 percent in December 2007 to a peak of 10.0 percent in October 2009.
3.Leo's 200,000 home falls a fifth in price and his loan is 190,000. What is the shortfall?
A fifth off 200,000 leaves 160,000; the loan of 190,000 exceeds it by 30,000.
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Sources (4)
- Federal Reserve History: The Great Recession and Its Aftermath
- National Bureau of Economic Research: Business Cycle Dating Committee Announcement, September 20, 2010
- U.S. Bureau of Labor Statistics: The Recession of 2007-2009 (Spotlight on Statistics, February 2012)
- Eigene Berechnung (synthetisches Rechenbeispiel
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