The dot-com bubble is a bear market in the U.S. stock market where a speculative bubble burst. Job seekers line up to apply for positions at an American Apparel store April 2, 2009, in New York City. Early 2000s recession The 2001 recession officially lasted from March through November 2001, although unemployment would continue to rise until June 2003. It ended about six years of economic growth. … It has now been a decade since the start of the Great Recession—the most severe economic downturn in the United States since the Great Depression. The Great Recession began well before 2008. By 1999, they dominated the economy. Early 2000s recession Last updated December 08, 2019. By August 2007, the Federal Reserve responded to the subprime mortgage crisis by adding $24 billion in liquidity to the banking system. Early 2000s Recession. Weekly unemployment claims have reached a 26-year high. The recession affected the European Union during 2000 and 2001 and the United States from March to November 2001. The 2007-09 economic crisis was deep and protracted enough to become known as "the Great Recession" and was followed by what was, by some measures, a long but unusually slow recovery. The Great Recession is a term that represents the sharp decline in economic activity during the late 2000s, which is generally considered the largest downturn since the Great Depression . The first signs came in 2006 when housing prices began falling. We saw a similar trend in the recession of the early 2000s, when the jobless rate peaked more than a year and a half after the end of the recession. The collapse of the speculative dot-com bubble, a fall in business outlays and investments, and the September 11th attacks, brought the decade of growth to an end. The Great Recession in the United States was a severe financial crisis combined with a deep recession. The recession affected the European Union during 2000 and 2001 and the United States from March to November 2001. 1 In a 2-year span starting in December 2007, the unemployment rate rose sharply, from about 5 percent to 10 percent. The Great Recession was a period between 2007 and 2009 when the housing bubble burst and employment, GDP and the stock market plummeted for the longest period since World War II. By September 2008, Congress approved a $700 billion bank bailout, now known as the Troubled Asset Relief Program. Early 2000s recession The 1990s were the longest period of growth in American history. Following 10 years of growth in the U.S. economy , the crash of the dotcom industry after the Y2K scare and the events of 9/11 contributed to the eight-month recession. The Great Recession that began in 2008 led to some of the highest recorded rates of unemployment and home foreclosures in the U.S. since the Great Depression. This recession lasted from December 2007 to June 2009. Many people mistake this for the dot-com bubble.