when did the economy recover from the great recession
Great Recession in the United States The recovery after the 2009 trough was weak and both GDP and job growth erratic and uneven. A solid, strong pace of job growth was not seen until 2011.[3] By August 2015, the unemployment rate was 5.1%,[4] below the historical average of 5.6% but still barely above the 5% when the recession started in December 2007, with roughly 12,639,000 jobs added since the Great Recession's payroll trough in February 2010.[5] American household net worth fell from a pre-recession peak of $68 trillion in Q3 2007 to $55 trillion by Q1 2009,[6] while real median household income fell from $56,436 in 2007 to $51,758 by 2012.[7] The poverty rate increased from 2006 to 2010, reaching a peak of 15%, and held there through 2012 before dropping to 14.5% in 2013.[8]
Great Depression in the United States Most economies started to recover by 1933â€“34. However, in the U.S. and some others the negative economic impact often lasted until the beginning of World War II, when war industries stimulated recovery.[34]
Quantitative easing The US Federal Reserve belatedly implemented policies similar to the current quantitative easing during the Great Depression of the 1930s.[30][31] Specifically, banks' excess reserves exceeded 6 percent in 1940, whereas they vanished during the entire postwar period until 2008.[32] Despite this fact, many commentators called the scope of the Federal Reserve quantitative easing program after the 2008 crisis "unprecedented".[33][34][35] [check quotation syntax]
United States Secretary of Labor Alexander Acosta is the current U.S. Secretary of Labor since April 28, 2017.