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

Demand for labor remained strong during the big immigrant wave of the 1980s until the Great Recession.

From The Daily Beast

The economic woes of the Great Recession have led to fewer marriages.

From The Daily Beast

The number of workers, particularly at the federal level, continued to rise even at the height of the great recession.

From The Daily Beast

In 2008, in the midst of the Great Recession, Kashkari was confirmed as assistant secretary of the Treasury.

From The Daily Beast

Next week, the expansion will enter its 59th month since the end of the Great Recession.

From The Daily Beast