GDP for Higher
12/06/2011 | | Economic Improvement, Economic recovery, employment, GDP Recovers, unemployment, US Economic Recovery, US GDP
During Q3 ‘11 U.S. GDP finally exceeded the real pre-recession peak of total economic output recorded in Q4 ‘07. It took 15 quarters to offset the 5.1% decline in output during the Great Recession, 3 times the average number of quarters needed to reach the prior peak in other post-WWII recessions. The bigger problem, the number of employed persons is still 6.5 million below what it was before the GR.