Officially over in 2009, the Great Recession is now generally acknowledged to be the most
devastating global economic crisis since the Great Depression. As a result of the crisis, the
United States lost more than 7.5 million jobs, and the unemployment rate doubled—peaking
at more than 10 percent. The collapse of the housing market and subsequent equity market
fluctuations delivered a one-two punch that destroyed trillions of dollars in personal wealth
and made many Americans far less financially secure. Still reeling from these early shocks …

Depression of the 1930s, growth returned to the US economy in the summer of 2009. The
recession may now be officially over, but its effects live on in the form of high unemployment,
a host of associated labor-market problems, and the ongoing threat of a double-dip
recession. For the 13.9 million Americans who were still out of work as of May 2011, the
recession continues and economic recovery remains elusive. The purpose of this book is to
describe the various and manifold consequences of the recession, not just the direct and …