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Macroeconomic Performance:
Putting the 2007 Recession in Historical Perspective Professor Norman Cloutier Director, Center for Economic Education University of Wisconsin-Parkside Roundtable Discussion on the Financial Crisis, Wisconsin Council for the Social Studies, Madison, March 16, 2009
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Real GDP Quarterly Growth Rates: 1970—2008
Recessions: November 1973 – March 1975 July 1981 – November 1982 July 1990 – March 1991 March 2001 – November 2001 December 2007
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Inflation: 1970—2009
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Unemployment: 1970—2009
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Cumulative Employment Decline as Percentage of Employment Peak: Last Four Recessions
As of February 2009 there are 12.5 million workers unemployed.
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Initial Unemployment Claims 2000—present
Source: US Dept of Labor,
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