Statement by Chad Stone, Chief Economist, Center on Budget and ::
on the July Employment Report. Aug 7 02:21 PM US/Eastern In the 2001 recession, unemployment peaked 19 months after the end of the Despite some stabilization in the unemployment rate, the percentage of the and levels reached in this recession are the highest on record in data that go back to 1994.
http://www.breitbart.com/print.php?id=prnw.20090807.DC58783&show_article=1HOME |
What was hardest hit? Housing? Manufacturing?
It varied enormously, state to state; some states have a higher proportion of manufacturing, others a higher proportion of service industries - as a result some states were hit much harder than others.
National Urban League::
Jan 29, 2004 Since employment reached its peak in February 2001, the economy dropped have been jobless for at least six months, the highest such rate in 20 years. -- Each month, the labor force of the U.S. grows by around 150000. income in the first two years of the recession, blacks lost 3.0 percent.
http://www.commondreams.org/news2004/0129-01.htmHOME |
The housing crash was a knock on effect from the recession, but it was never expected to continue in decline for so long; the market was saturated in the end and this probably was the main cause for the protracted decline, pushed by the increasing weight of debt in the USA in the financial sector.
Article from Policy Perspectives::
File Format: PDF/Adobe Acrobat - ViewThe recession of 2001 only lasted nine months, but the economy didn't stop seen in the 1990 recession. This suggests that the U.S. economy is employment reached a peak in February 1945 at 41903000. roughly one percentage point above that average. The highest rate recorded was January 1983 when the
http://www.cppa.utah.edu/publications/econ_dev/PP_Historical_Recessions.pdfHOME |
InvestorCentric: Unemployment Rate Rises To 8.5 Percent::
At 8.5 percent, the unemployment rate reached its highest level since 1983 as the total While the last recession ended in late-2001, not the worst of the job losses in the current recession are already behind us.
http://www.nuwireinvestor.com/blogs/investorcentric/2009/04/unemployment-rate-rises-to-85-percent.htmlHOME |
It's a tough life being a President.....good luck Barrack - go for it!!
December was the highest that calendar year -- 5.8%
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What was the highest percentage US unemployment reached in the recession of 2001?