Wednesday, February 08, 2012
[IWS] BLS: THE RECESSION OF 2007-2009 (Spotlight on Statistics) [8 February 2012]
IWS Documented News Service
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Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
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BLS Spotlight on Statistics
THE RECESSION OF 2007-2009 [8 February 2012]
http://www.bls.gov/spotlight/2012/recession/
or
http://www.bls.gov/spotlight/2012/recession/pdf/recession_bls_spotlight.pdf
[full-text, 18 pages]
Also Audio
Listen at
http://www.bls.gov/spotlight/2012/recession/audio/recession.mp3
or for text of audio
http://www.bls.gov/spotlight/2012/recession/audio.htm
[excerpt]
A general slowdown in economic activity, a downturn in the business cycle, a reduction in the amount of goods and services produced and sold—these are all characteristics of a recession
According to the National Bureau of Economic Research (the official arbiter of U.S. recessions), there were 10 recessions between 1948 and 2011. The most recent recession began in December 2007 and ended in June 2009, though many of the statistics that describe the U.S. economy have yet to return to their pre-recession values. In this Spotlight, we present BLS data that compare the recent recession to previous recessions.
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