[PDF] 2008 recession unemployment rate

In a 2-year span starting in December 2007, the unemployment rate rose sharply, from about 5 percent to 10 percent. In late 2009, more than 15 million people  Autres questions
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  • What was the unemployment rate in 2008 recession?

    It has now been a decade since the start of the Great Recession—the most severe economic downturn in the United States since the Great Depression. In a 2-year span starting in December 2007, the unemployment rate rose sharply, from about 5 percent to 10 percent.

  • Why did the 2008 recession lead to an increase in unemployment?

    Why Does Unemployment Rise in a Recession? As economic activity slows in a recession, consumers cut spending. When consumers cut spending, there is less demand for the goods and services that companies sell, so companies manufacture less and may trim their service offerings.

  • What happened to the unemployment rate during a recession?

    With lower demand for goods and services, firms start laying off workers and at the same time refrain from raising prices. So unemployment rises and inflation falls during recessions.
  • As a result of the Great Recession, the United States alone lost more than 8.7 million jobs, according to the U.S. Bureau of Labor Statistics, doubling the unemployment rate. Further, U.S. households lost roughly $19 trillion in net worth as the stock market plunged, according to the U.S. Department of the Treasury.
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