Secretary [edit]. The Secretary of State is elected for a four-year term, concurrent with that of the governor. Candidates are nominated at partisan conventions. Under the state Constitution, the Secretary of State is restricted to two four-year terms in that office.
1 The employment decline experienced during the December 2007âJune 2009. recession was greater than that of any recession of recent decades. Forty-seven. months after the start of the recession that began in November 1973, for example, employment was more than 7 percent higher than it had been when the recession. started.
The National Bureau of Economic Research dates recessions on a monthly basis back to 1854; according to their chronology, from 1854 to 1919, there were 16 cycles. The average recession lasted 22 months, and the average expansion 27.From 1919 to 1945, there were six cycles; recessions lasted an average 18 months and expansions for 35. From 1945 to 2001, and 10 cycles, recessions lasted an average 10 months and expansions an average of 57 months.n 1791, Congress chartered the First Bank of the United States to handle the country's financial needs. The bank had some functions of a modern central bank, although it was responsible for only 20% of the young country's currency.