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Great Recession
[greyt ri-sesh-uhn]
noun
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
That number is on par with the Great Recession of 2008.
“And it seems like there’s no end in sight. At least with the Great Recession it seemed like there was an effort in Washington to try to make things better.”
That's a historical pattern over the last 20 years, in the 2008 Great Recession.
“But it’s never been this hard to just get interest on a résumé. Even during the Great Recession and COVID, there were fewer postings, but it was never this quiet.”
After the fallout from the Great Recession, when interest rates were low and companies began hiring rabidly, a typical line of advice was offered to America’s youth: Study a buzzy field in college, get early career experience while there, refine your credentials, and earn that degree—then, you’ll be guaranteed a comfortable, well-paying job with employers who feel lucky to have you.
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