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In the Great Depression, GDP fell by 27% (the deepest after demobilization is the recession beginning in December 2007, during which GDP had fallen 5.1% by the second quarter of 2009) and the unemployment rate reached 24.9% (the highest since was the 10.8% rate reached during the 1981–1982 recession).
This period was characterized by short, frequent periods of expansion, typically punctuated by periods of sharp recession. This cyclical pattern continued through the Great Depression. Economic growth since 1945 has been more stable with fewer recessions when compared to previous eras.
The Great Depression's political landscape proved conducive to the first large-scale movement of class-conscious working-class women organizers since the country's founding. Housewives, mothers, and working-class women regardless of employment status were driven by rising market prices to become political players within their communities.
Since the Great Recession, the “good” jobs—secure, non-temp, decent salary—have concentrated in cities like never before. America’s 100 largest metros have added 6 million jobs since the downturn. Rural areas, meanwhile, still have fewer jobs than they did in 2007.
December marked the five-year anniversary of the official beginning of the Great Recession - the most severe economic contraction the United States has experienced since the Great Depression. The ...
Since the Great Depression, there have been 14 recessions, which are part of the normal economic cycle. Economists keep waffling on whether or not the U.S. is going to head into one in 2024 after ...
[2] [3] At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression. The causes of the Great Recession include a combination of vulnerabilities that developed in the financial system, along with a series of triggering events that began with the bursting of ...
Mexico's economy in the second quarter declined the most since the Great Depression, despite partially recovering from the depths in June, as the coronavirus pandemic shuttered factories, kept ...