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What is a recession, and is the U.S. headed for a recession
Younger generations often associate the word "recession" with catastrophe—and for good reason. From December 2007 to June 2009, the Great Recession led millions of Americans to lose their homes and livelihoods. It was the worst economic downturn since the Great Depression of the 1930s, and it traumatized several cohorts that left college or graduate school with little hope of finding a good job as the labor market took nearly a decade to fully recover. For a significant percentage of the population, 2008’s collapse is the only true recession they’ve ever experienced—if you don’t count 2020’s ... (full story)