Good Employment Health is a Fragile Thing
Abstract:
Since 1945, there have been 10 economic cycles in the U.S. The average length of the contractions has been 10 months. The average length of the expansions has been 57 months. If it is decided that last fall was the start of the latest contraction, then the prior expansionary phase lasted about six years. If the economy gets back on track by this fall, that will be fairly consistent with the length of most contractions. However, based on history, the outlook for employment may stay depressed for quite some time.
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Since 1945, there have been 10 economic cycles in the U.S. The average length of the contractions has been 10 months. The average length of the expansions has been 57 months. If it is decided that last fall was the start of the latest contraction, then the prior expansionary phase lasted about six years. If the economy gets back on track by this fall, that will be fairly consistent with the length of most contractions. However, based on history, the outlook for employment may stay depressed for quite some time.