Answer:
The U.S. economy sank into recession early
in the 1990s and then rebounded with the
longest running expansion in the Nation’s
history.1 Real gross domestic product (GDP)
growth slowed in 1990 as the country slipped into
recession. By 1992, however, recovery began and
GDP grew throughout the remainder of the decade. Nonfarm payroll employment increased by
nearly 21 million workers during the decade.2
Employment in export-sensitive industries followed a cyclical pattern, turning down for the
1990–91 recession and the later Asian economic
crisis. Reduced defense spending resulted in job
losses in defense-related industries, especially
early in the decade.
Explanation:
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