Describe the US macroeconomic performance over the past ten

Describe the U.S. macroeconomic performance over the past ten years. Why do most people feel the U.S. has not recovered from the most recent recession?

Solution

From the past ten years US have faced hurricane katrina, iraq war, recession.The U.S. economy is currently emerging from a period of considerable turmoil. A mix of factors, including low interest rates, widespread mortgage lending, excessive risk taking in the financial sector, high consumer indebtedness and lax government regulation, led to a major recession that began in 2007. The housing market and several major banks collapsed in 2008 and the U.S. economy proceeded to contract until the third quarter of 2009 in what was the deepest and longest downturn since the Great Depression

The economy has been recovering slowly yet unevenly since the depths of the recession in 2009,The reason behind this slow recovery is the nature and magnitude of the shocks,that caused the recession,Most of the slow recovery in employment and all that in output is due to a slowdown in trend labor force growth