Great Recession

[greyt ri-sesh-uhn]

noun

1. the period of economic contraction in the United States and other countries from December 2007 to June 2009 following the collapse of a housing bubble that precipitated a subprime mortgage crisis and subsequent systemwide turmoil in the investment banking sector.

Example Sentences

The country was, simultaneously, dealing with an economic crisis then-titled the Great Recession.

From Los Angeles Times

In the United States, rates started to take a sharper nosedive after the Great Recession, driven in part by college-educated women who delayed having children.

From Salon

It’s a shocking number, to say the least, considering that it also marked the first year-over-year increase since 2009, when milk prices suffered a historic drop due to the Great Recession.

From Salon

The past decade has been a time of progress for child care advocates, as the state rebuilt a child care industry decimated by cuts during the Great Recession.

From Los Angeles Times

The state’s voters stripped lawmakers of the power to draw lines during the Great Recession and handed that partisan power to a panel of independent citizens whose names are drawn in a lottery.

From Los Angeles Times