10 years after the recession began, have Americans recovered?
It's been ten years since the start of the Great Recession. That's an arbitrary anniversary, sure. But downturns need beginnings, and the National Bureau of Economic Research decided this one happened in December 2007, when employment peaked and started to head south -- for two long years. What followed: The loss of more than eight million jobs, half the value of the Dow and the S&P 500, and trillions of dollars in retirement accounts and household wealth. Lives and businesses were ruined and whole neighborhoods emptied out, as banks took back homes bought on badly underwritten credit.