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“This decline is similar to those seen during the Great Recession and dot-com bust,” according to the Legislative Analyst’s Office. California’s revenue decline is reminiscent of the Great ...
For comparison, the severe 1981-82 recession had a jobs decline of 3.2%. [49] Full-time employment did not regain its pre-crisis level until August 2015. [51] The unemployment rate ("U-3") rose from the pre-recession level of 4.7% in November 2008 to a peak of 10.0% in October 2009, before steadily falling back to the pre-recession level by May ...
Five days later, Bank of America, Citigroup, Wells Fargo, and JP Morgan Chase announced that they would stop accepting IOUs by July 10. Fitch Ratings dropped California's bond rating from A-minus to BBB. [15] On July 24, 2009, the state government passed a budget that included $15 billion in service cuts, including $8.1 billion in education cuts.
International trade, 2000-2010. 2000=100. [3] A plunge in the volumes of exchanges can be seen as of the second half of 2008. In middle-October 2008, the Baltic Dry Index, a measure of shipping volume, fell by 50% in one week, as the credit crunch made it difficult for exporters to obtain letters of credit.
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Pages for logged out editors learn more. Contributions; Talk; Late 2000s - early 2010s recession in the Americas
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