In the postwar era, there have been 10 recessions excluding the present one. After the first eight ended, unemployment usually peaked within a few months - about three on average.
But after the last two recessions, the unemployment rate kept climbing for more than a year, giving rise to the term jobless recovery. The rate didn't peak until 15 months after the recession ending in 1991, and 19 months following the one ending in |
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Margaret Bassett passed away August 21, 2011. She was a treasured member of the Opednews.com editorial team for four years.
Margaret Bassett--OEN editor--is an 89-year old, currently living in senior housing, with a lifelong interest in political philosophy. Bachelors from State University of Iowa (1944) and Masters from Roosevelt University (1975) help to unravel important requirements for modern communication. Early introduction to computer science (1966) trumps them. It's payback time. She's been "entitled" so long she hopes to find some good coming off the keyboard into the lives of those who come after her.
