About Great Recession
The Great Recession was a period of general economic decline observed in world markets during the late 2000s and early 2010s. The scale and timing of the recession varied from country to country.
Pandemic pushes US in an official recession
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Pandemic pushes US in an official recession
The economic downturn in the United States, the pandemic, a recession was triggered officially.
The National Bureau of Economic Research the term on Tuesday citing the extent and severity of the current contraction.
He Said activity and employment hit a "clear" and "well-defined" peak in February, before falling to the ground.
The judgment to a formal end, which was More Than a decade of Expansion - the longest in the history of the United States.
A recession is expected after the economy contracted by 5% in The First three months of the year, and employers reported an average of approximately 22 million jobs, in March and April, when restrictions on the activities is to help The Virus under control forced many companies to.
Some economists are confident that these losses have now ceased, and a rebound has begun. In may, U.S. employers 2 added. 5 Million Jobs.
The National Bureau of Economic Research, in General, a recession is defined as an economic contraction that lasts "longer than a few months".
In this case, the economists responsible for Dating the cycles, Said the scale of The Decline that started in February is more important than the duration.
"The unprecedented magnitude of The Decline in employment and production, and its large reach over the economy as a whole, justifies the designation of this episode as a recession, even if it is labor is shorter than in the past," it Said .
The US economy 12 recessions it has experienced since 1948, the longest of which, the Great Recession , which lasted 18 Months , from December 2007 to June 2009 .
Since then, the United States had experienced a slow and steady Expansion . That ended in February, The Bureau Said .
unemployment, recession, coronavirus lockdown measures, coronavirus pandemic, us economy
Source of news: bbc.com
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