Two Recessions, Two Recoveries

The Great Recession of 2007-2009 was one of the deepest downturns of the U.S. economy since World War II. Triggered by crises in the housing and financial markets, the recession evokes memories of homes in foreclosure, the collapse of Lehman Brothers, and bailouts for businesses in the auto, banking and financial sectors.

The subsequent expansion began in July 2009 and is now at 125 months and counting, making it the longest economic recovery dating back to the mid-19th century. Yet, homeownership and family wealth are struggling to rebound, and the presidential campaigns of Sens. Bernie Sanders and Elizabeth Warren manifest growing concern with economic inequities. A leading economist has labeled this an era of “secular stagnation.”

Pew Research Center