The Great Recession was a period of marked general decline, i.e. a recession, observed in national economies globally that occurred between 2007 and 2009.The scale and timing of the recession varied from country to country (see map). At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great …

Nov 22, 2013 · The 2007-09 economic crisis was deep and protracted enough to become known as "the Great Recession" and was followed by what was, by some measures, a long but unusually slow recovery. Job seekers line up to apply for positions at an American Apparel store April 2, 2009, in New York City.

Nov 22, 2013 · The unemployment rate, which was 5 percent in December 2007, rose to 9.5 percent in June 2009, and peaked at 10 percent in October 2009. The financial effects of the Great Recession were similarly outsized: Home prices fell approximately 30 percent, on average, from their mid-2006 peak to mid-2009, while the S&P 500 index fell 57 percent from ...

May 26, 2022 · The Great Recession is a term that represents the sharp decline in economic activity during the late 2000s, which is generally considered the largest downturn since the Great Depression . The term ...

Oct 25, 2022 · Great Recession, economic recession that was precipitated in the United States by the financial crisis of 2007–08 and quickly spread to other countries. Beginning in late 2007 and lasting until mid-2009, it was the longest and deepest economic downturn in many countries, including the United States, since the Great Depression (1929–c. 1939).

By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. Some economies started to recover by the mid-1930s. ... something that was not repeated until the late-2000s recession. 2007 and 2008 eventually saw the world reach new levels of wealth gap inequality that rivalled the years of 1928 and 1929. ...

The Great Recession in the United States was a severe financial crisis combined with a deep recession. While the recession officially lasted from December 2007 to June 2009, it took many years for the economy to recover to pre-crisis levels of employment and output.This slow recovery was due in part to households and financial institutions paying off debts accumulated in the …

Many factors directly and indirectly serve as the causes of the Great Recession that started in 2008 with the US subprime ... securities that lost much or all of their value when U.S. and European housing bubbles began to deflate during the 2007-2009 period, depending on the country. Further, many institutions had become dependent on short-term ...

The European recession is part of the Great Recession, which began inside the United States.The crisis spread to Europe rapidly and affected much of the region with several countries already in recession as of February 2009, and most others suffering marked economic setbacks. The global recession was first seen in Europe, as Ireland was the first country to fall in a …

Job losses caused by the Great Recession refers to jobs that have been lost worldwide within people since the start of the Great Recession.In the US, job losses have been going on since December 2007, and it accelerated drastically starting in September 2008 following the bankruptcy of Lehman Brothers. By February 2010, the American economy was reported to be …