Recession Over? Economic Team Says Recession Ended 2009
By: Jennifer Hong
Published: Sep 20, 2021
Recession Over? The one that began in late 2007 is over, according to the National Bureau of Economic Research. The research team claims it ended in June 2009. However, the jobless and unemployment rate remains steady, which dampens the economic news
The bureau's Business Cycle Dating Committee met by conference call Sunday and determined that the recession's "trough" had been reached last summer, when a slow expansion of the national economy began.
At 18 months, the recession was the longest in the United States since the Great Depression. A Recession in the near future would be considered a separate recession rather than a continuation or deepening of the 2007-09 recession, the bureau said.
The bureau was also careful to point out that, "In determining that a trough occurred in June 2009, the committee did not conclude that economic conditions since that month have been favorable or that the economy has returned to operating at normal capacity. Rather, the committee determined only that the recession ended and a recovery began in that month."
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