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In the past, the National Bureau of Economic Research has watched an economic decline for longer before declaring a recession. But this is no ordinary contraction.
A group of economists declared Monday that the longest expansion on record has ended.
The U.S. unemployment rate fell to 13.3% in May, and 2.5 million jobs were added
Recession grads make less money, and it takes 10 to 15 years to catch up in terms of income.
A Marketplace Edison Research poll found a third have lost hours but 16% are working more.
The city is quickly becoming a case study for how a frayed social safety net responds in a global pandemic.
Just because the COVID-19 recession came on incredibly quickly does not mean it will be a quick recovery.
Demand will come back after the coronavirus pandemic subsides, but how much demand? And for what?
Recessions vary in length and severity, but the differences come down to how reversible the damage is.
Annie Lowrey of The Atlantic expects the coronavirus to cause a jobs crisis, but government spending could help.