As of December, the U.S. economy had expanded for 126 consecutive months, the longest streak on record. In other words, the United States has not experienced a recession in a decade, the first time in its history. Looking into the reasons behind this, the United States was devastated by the financial crisis in 2008, and the economy has slowly climbed from the trough over the past decade, prolonging the recovery. This expansion period, for example, was slower than during the previous expansion because of the soaring unemployment rate during the financial crisis, which, in a combined way, affected the recovery in employment growth.
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