Business Cycle
By: Zach Elliott
The Business Cycle:
Recession- A time when business starts to slowly fall and unemployment starts to increase but business is still making money and providing jobs.
Depression- A time where businesses begin to fail and unemployment is at a all time high most people are unemployed and are fighting to live.
Recovery- A bounce back from the Depression unemployment starts decreasing and people start finding jobs again and start heading to a time of prosperity.
Facts:
Recession
1.The Great Recession began December 2007 through June 2009 and it came with the housing crash that cost 8 trillion dollars.
2.Consumer and Business spending and investing dried up and started to come to a halt.
3.In 2008 and 2009 the U.S labor market lost 8.4 million jobs.
Recovery
1. The real gap in the job market is now around 11 million jobs.
2. Mostly the recovery has been based around the decline in lay offs not hiring.
3. Wage begins to increase but still remains low.
Depression
1. The Great Depression peaked through 1932-1933
2. Because the circulation of money was so low nickels were not minted through 1932-1933
3. In 1920's the wealthiest 1% owned 1/3 of America's assests.