Great Recession

American  

[greyt ri-sesh-uhn] / ˈgreɪt rɪˈsɛʃ ən /

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.

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Example Sentences

This mindfulness of the American dream versus economic reality has always been embedded in Joyce Manor, which formed during the Great Recession.

From Los Angeles Times

Gorman earned the deep respect of Wall Street during his tenure at Morgan Stanley, which included deftly steering the investment firm out of the Great Recession and bolstering its businesses and workplace culture.

From Los Angeles Times

And millennials — many who had to weather the Great Recession of 2008-09 just as they were launching their careers — are feeling the pain.

From MarketWatch

And millennials — many who had to weather the Great Recession of 2008-09 just as they were launching their careers — are feeling the pain.

From MarketWatch

When our careers and savings were decimated by the Great Recession in 2008, we decided to retire early and relocate abroad.

From MarketWatch