Nine facts about the Great Recession and tools for fighting the next downturn | Brookings (2024)

Research

Diane Whitmore Schanzenbach,

Ryan Nunn,

Nine facts about the Great Recession and tools for fighting the next downturn | Brookings (2)

Ryan Nunn Assistant Vice President for Applied Research in Community Development - Federal Reserve Bank of Minneapolis @ryandnunn

Lauren Bauer, David Boddy, and Greg Nantz

GN

Greg Nantz Senior Research Assistant & Publications Coordinator, The Hamilton Project

May 23, 2016

Nine facts about the Great Recession and tools for fighting the next downturn | Brookings (4)
  • 1 min read


Between December 2007 and June 2009 the United States experienced the most severe recession in the postwar period. The over 4 percent decline in gross domestic product (GDP) was only reversed more than three years after the beginning of the recession. During the worst part of the Great Recession, virtually every segment of the U.S. economy was adversely affected. Employment losses were severe, but also unevenly distributed: men, the young, and the less educated suffered disproportionately in the recession’s aftermath.

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