It's Official: The Great Recession Is Over

The National Bureau of Economic Research has made official what we knew we knew, already: the recession is over. It ended -- that is, economic activity stopped declining -- in the early summer of 2009. The Great Recession lasted 18 months, two months longer than the 1981-2 recession to which it is often compared, and longer than any recession since World War II.

Gross Domestic Product has been growing for more than a year, so what took so long? NBER waits until it has enough information to identify exact peak and trough months. It waited until November 2008 to declare that there was a recession that began in December 2007, and it wanted 15 months to determine that the economy bottomed out in June 2009.

So, something obvious has been made official. Naturally, the stock market is going crazy.

Presented by

Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

Never Tell People How Old They Look

Age discrimination affects us all. Who cares about youth? James Hamblin turns to his colleague Jeffrey Goldberg for advice.

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.

blog comments powered by Disqus

Video

Never Tell People How Old They Look

Age discrimination affects us all. James Hamblin turns to a colleague for advice.

Video

Would You Live in a Treehouse?

A treehouse can be an ideal office space, vacation rental, and way of reconnecting with your youth.

Video

Pittsburgh: 'Better Than You Thought'

How Steel City became a bikeable, walkable paradise

Video

A Four-Dimensional Tour of Boston

In this groundbreaking video, time moves at multiple speeds within a single frame.

Video

Who Made Pop Music So Repetitive? You Did.

If pop music is too homogenous, that's because listeners want it that way.

More in Business

Just In