, Columnist
Bouncing Back From the Great Recession
The plunge was huge, but the pace of the rebound matches other recoveries.
On the job again.
Photographer: Ty Wright/BloombergThis article is for subscribers only.
Did the Great Recession inflict permanent damage on the U.S. economy? Or was it just a deep hole that took a long time to climb out of? Evidence now says that it was mostly the latter.
Based on how fast the U.S. recovered from the 2008 financial crisis and the recession that followed, the speed hasn't been too different from that of other recessions during the past 30 years. Here, courtesy of Bill McBride, blogger at Calculated Risk, is a chart comparing job losses and recoveries in various U.S. recessions: