Back to the crash

The headquarters of the National Bureau of Economic Research reported the growth in the decade between 2000 and 2009 has been slower than in all previous decades since the '30s. Real GDP grew by an average of 1.9% a year during the 2000s compared to the previous decades where growth was 3.9% a year. In the '30s however, growth was only 0.9% a year. Only in the '30s was growth in Americans' personal consumption worse as well. Employment growth was an average of 27% a decade compared to a drop in employment by 0.8% between 2000 and 2009. This was surprising to me because I knew our current economic situation was bad, I just didn't know it was the worst since the Great Depression.