Between 2008 and 2009, the US economy

Annual Change in US Unemployment

and GDP, 2005-2012

GDP- Unemployment rate

Between 2008 and 2009, GDP changed by about

Between 2008 and 2009, the unemployment rate

changed by about

Percent of change

2005 2006 2007 2008 2009 2010 2011 2012

Intro

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In 2005, the GDP growth was 3.5% and unemployment rate was 4.9%

In 2006, the GDP growth was 2.7% and unemployment rate was 4.4%

In 2007, the GDP growth was 1.8% and unemployment rate was 5%

In 2008, the GDP growth was -0.1% and unemployment rate was 7.3%

In 2009, the GDP growth was -2.5% and unemployment rate was 9.9%

In 2010, the GDP growth was 2.6% and unemployment rate was 9.3%

In 2011, the GDP growth was 1.6% and unemployment rate was 8.5%

In 2012, the GDP growth was 2.2% and unemployment rate was 7.8%

Explanation:

The data shows that in 2008, the GDP growth was decreased by -0.1% and unemployment rate was 7.3%  which is high as compared to the previous years, while in 2009, the GDP growth was -2.5% and unemployment was increases up to 9.9%. In 2007, the unemployment rate was 5% which is very low as compared to other years in the above table. In these two years i. e. 2008 and 2009, the GDP growth goes negative which means Financial Crisis and due to this decreases, unemployment rate was also increases.

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