America: A Nation In Recovery (Finally)
by Christian Stellakis on Jan 24, 2015 | Views: 344 | Score: 1
| Number of months since recession for the unemployment rate to return to pre-recession levels | |
|---|---|
| 1960-1961 | 20 |
| 1970 | 17 |
| 1973 | 25 |
| 1980 | 11 |
| 1981-1982 | 28 |
| 1990-1991 | 30 |
| 2001 | 46 |
| 2008-2009 | 77 |
Period Of Economic Recession In America
Sources:
dailysignal.com
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The United States' economy is on the mend, but the road to recovery certainly has been a long one. The recovery from the Great Recession was the slowest of the last fifty years. It took the economy over six years for the rate of unemployment to return to its pre-recession level.
The best point of comparison would be the recovery from the Great Depression. How long did that take?
There really is no comparison when discussing the Great Depression. Following the stock market crash of 1929, it took the US economy about until the year 1942 to return to its pre-depression level of unemployment, a period of about 13 years or 156 months. That's more than double the time it took for the recession of 2008-2009.