What Is The Great Recession Of 2007-09

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The Great Recession of 2007-09 was by most accounts the deepest recession in the postwar WWII period, and many of its effects have lingered beyond its official end in June 2009. Seasonally adjusted unemployment, which stood at 5.0 percent at the recession’s start, doubled to its peak of 10.0 percent in October 2009. As of December 2013, 4 1/2 years after the recession’s official end, unemployment was 6.7 percent. Along with decreased employment came reductions in earnings. Between 2007 and 2012, average U.S. household annual income fell from $55,627 to $51,017. Consumers have strong food preferences and slow-to-change eating habits, making short-term economic downturns less likely to alter food choices. The size and severity of the Great Recession

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