Happy 11th Birthday to End of the Great Recession
The National Bureau of Economic Research (NBER) announced that The Great Recession had officially ended in June of 2009.
All of 11 years later we found an epic way to utterly shred the worst records for employment created by the Great Recession by creating the COVID-19 Recession. This year in 2020 the NBER was able to give the USA the update that we are now in a new recession starting around February, 2020.
Perks
Gasoline is around 30 year lows per gallon even as states have increased their gasoline taxes.
Garbage Pile
Unemployment rate is on pace for 20% which would be the highest since the Great Depression which was based on estimates.
Same ol’ same ol’
The US Postal Service is still 11 years later hovering around bankruptcy.
We’re going to celebrate the end of the Great Recession with some fun facts.
One year after the “end” of the Great Recession this stellar website was launched in 2010.
In the Second Year birthday of the “non-recession” the economy was still a giant pile of crap for most Americans.
- Regular gasoline was about $4.19 in Michigan for regular
- The biggest hiring (marketing) event in the country is put on by McDonald’s
- Half of May 2011 job creation came from one employer, McDonald’s.
- 24% youth unemployment
- 60% of recent college graduates are unable to find full time work.
- Graduates that do find work, are paid about 11% less than workers from 2006-2007 (not counting inflation).
- 38,000-46,000 more unemployed to be released into the public.
- Three consecutive month increase in the national unemployment rate to 9.1%.
- 15.8 % U-6 (which is all people looking for full-time work, discouraged workers, or unemployed.
- Time Magazine reports that 24 million Americans are without full-time work.
- Lowest home prices pointing to double dip in real estate.