2008 recession unemployment rate usa
The Carnegie Endowment for International Peace reports in its International Economics Bulletin that Ukraine, as well as Argentina and Jamaica, were the countries most deeply affected by the crisis.
Other severely affected countries were Romania, Ireland, Russia, Mexico, Hungary, the Baltic states.
What was the unemployment rate in 2008 recession?
In December 2007, the national unemployment rate was 5.0 percent, and it had been at or below that rate for the previous 30 months.
At the end of the recession, in June 2009, it was 9.5 percent.
In the months after the recession, the unemployment rate peaked at 10.0 percent (in October 2009).
How much did the US economy shrink in 2008?
The decline in overall economic activity was modest at first, but it steepened sharply in the fall of 2008 as stresses in financial markets reached their climax.
From peak to trough, US gross domestic product fell by 4.3 percent, making this the deepest recession since World War II.
How did the recession of 2008 affect the US?
The Great Recession of 2008 to 2009 was the worst economic downturn in the U.S. since the Great Depression.
Domestic product declined 4.3%, the unemployment rate doubled to more than 10%, home prices fell roughly 30% and at its worst point, the S&P 500 was down 57% from its highs.
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