Question

The great recession was declared to be “over” in the U.S. in June of 2009. How did this recession compare to other economic downturns?

Answer 1

Comparing to other economic downturns, the Great Recession of 2009 was longer and deeper. Unlike the Great Depression, this one was synchronized with a worldwide integration of markets, explaining the longer duration and the slower recovery.

Answer 2

Generally speaking, this recession was far more devastating than other relatively recent economic downturns in that it lasted longer than expected and many more homes and jobs were lost than expected. Thus the term "Great Recession".