The early 2000s recession was a decline in economic activity which happened mainly in developed countries. The recession affected the European Union in 2000 and 2001 and the United States in 2002 and 2003. The UK, Canada and Australia avoided the recession while Russia, a nation that did not experience prosperity during the 1990s, began to recover. Japan's 1990s recession continued. After the mild 1990 to 1991 it ended in March 1991 the country had a unemployment rate of 7.8% in mid1992. Job growth stopped by large layoffs in defense related industries. Payroll gains happened in 1992 and experienced growth through the year 2000. According to the (NBER) which is, nonprofit, nonpartisan organization charged with the economic recessions the USA economy was in recession from March 2001 to November 2001 eight months at the beginning of President George W. Bush’s term of office. This
The early 2000s recession was a decline in economic activity which happened mainly in developed countries. The recession affected the European Union in 2000 and 2001 and the United States in 2002 and 2003. The UK, Canada and Australia avoided the recession while Russia, a nation that did not experience prosperity during the 1990s, began to recover. Japan's 1990s recession continued. After the mild 1990 to 1991 it ended in March 1991 the country had a unemployment rate of 7.8% in mid1992. Job growth stopped by large layoffs in defense related industries. Payroll gains happened in 1992 and experienced growth through the year 2000. According to the (NBER) which is, nonprofit, nonpartisan organization charged with the economic recessions the USA economy was in recession from March 2001 to November 2001 eight months at the beginning of President George W. Bush’s term of office. This