One of the most, if not the most severe recession since World War II began in the

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The recession began in the fall of 2007, as a result of the subprime mortgage crisis, and lasted until 2009. It was characterized by high unemployment rates, a decline in GDP, a housing market collapse, and the failure of several major financial institutions. The recession was deemed to be the most severe since the Great Depression of the 1930s.

One of the Most, If Not the Most Severe Recession