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The sluggish recovery from the Great Recession: why there is no ‘V’ rebound this time

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  • Mark A. Wynne

Abstract

The Great Recession of 2008–09 was by far the most severe United States economic downturn since the Great Depression of the 1930s. Real gross domestic product (GDP), the most comprehensive measure of U.S. economic activity, topped out in fourth quarter 2007 and has yet to approach that peak. Employment totaled just below 138 million jobs in January 2008 and, as of July 2011, was still nearly 5 percent below its precrisis level.

Suggested Citation

  • Mark A. Wynne, 2011. "The sluggish recovery from the Great Recession: why there is no ‘V’ rebound this time," Economic Letter, Federal Reserve Bank of Dallas, vol. 6(sept).
  • Handle: RePEc:fip:feddel:y:2011:i:sept:n:v.6no.9
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    File URL: http://www.dallasfed.org/assets/documents/research/eclett/2011/el1109.pdf
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    References listed on IDEAS

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    1. Michael D. Plante & Mine K. Yücel, 2011. "Did speculation drive oil prices? futures market points to fundamentals," Economic Letter, Federal Reserve Bank of Dallas, vol. 6(oct).
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