The Recession

The economy is taking a dive in the United States; it is the biggest recession since the Great Depression. Much of the cause to the recession was the terrorist attacks in 2001 that demolished the World Trade Centers, which crippled the trade between the U.S. and other countries not allowing money to come in and money spent on the war overseas.


A main effect of the recession is unemployment. In 2010, the Unemployment rat in the U.S is at 9.7%. “More than half a million Americans found work, a Labor Department report showed yesterday in Washington, helping push the jobless rate to the lowest since August. A separate survey of employers showed payrolls declined by 20,000 as construction companies and state and local governments cut back” (Business Week). Manufacturers are hiring for the first time in three years, which is hoped to start the stock market back up. Companies are saying that the new payrolls will not go as high as they were before the drop-offs, and one company is saying how there is no structure to the recovery.