Current Downturn Already Longer Than Average

Jobs lost, recession confirmed »
Reflecting a deepening U.S. recession, the unemployment rate climbed to its highest level in 15 years in November as the economy shed more than half-a-million jobs. In other news, the committee of economists responsible for dating the nation’s business cycles declared that the United States went into recession last December. That makes the current downturn already longer than average. For the week, the S&P 500 Index fell -2.2% to 876.1 (for a year-to-date total return of -39.1%). The yield of the 10-year U.S. Treasury note declined 22 basis points to 2.71% (for a year-to-date decrease of -1.33 percentage points). Read morevanguard-ship