Question: Read lecture note.
Summery and discuss some issue related to Great recession.
This is labor economics. Essay should related to labor economic.
The Great Recession and its aftermath
We begin the course with a look at the most significant event of the 21st century for the United States labor market: the Great Recession of 2007-2009. To put the Great Recession into context, we will examine data that compare the Great Recession to the most significant event of the 20th century for the U.S. labor market, the Great Depression of the 1930s. We will also compare the Great Recession to its immediate predecessors as post-World War II recessions (from the 1970s until the early 2000s). A major emphasis in this first part of the topic, then, will be to assess in what ways the Great Recession is different from its predecessors, and in what ways it is similar.
Consider first what we mean by recession. There is no official definition of recession, and no official body to decree that one has begun or ended. Indeed, a clear picture of the state of the economy usually comes only months or even years later. Recessions are frequently described as two or more quarters of a declining gross domestic product.
If possible, please use source from lecture note.
Total 5 pages.
Attachment:- us_business_cycle.pdf