US breaks record for longest economic expansion
(Worthy News) – The U.S. broke its record for time without an economic recession Monday as it began the 121st consecutive month of gross domestic product (GDP) growth since the 2008 recession.
The recovery, which began in July 2009, turned 10 years old Monday, marking the longest stretch of economic expansion in modern U.S. history.
After unemployment peaked at 10 percent in October 2009, the decade-long recovery drove the unemployment rate down to near record lows — 3.6 percent as of June. The economy has added jobs in every month since October 2010, while GDP growth has stayed solid, if not always remarkable, throughout the past 10 years. [ Source: The Hill (Read More…) ]
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