Great Recession

Nevada, with its six electoral votes, is far from the biggest Election Day prize sought by President Obama and Republican challenger Mitt Romney.

But in a race that could be so close that neither candidate can afford to concede a single electoral vote, Nevada is being courted by the candidates to a degree far greater than its size would suggest.

Also, while Obama carried the state by 12 percentages points in 2008, the Great Recession hit the state hard, with widespread foreclosures and high unemployment.

This is one of the defining graphs of the past few years.

With typical restraint, Business Insider calls it THE SCARIEST JOBS CHART EVER. It shows how brutal the recent recession was, and how horribly slow the recovery has been.

Jim Hill / KUNC

According to a new analysis of 2011 Census figures – a higher percentage of Coloradans are living in poverty than in 2007, before the economic recession began. Poverty rates in northern Colorado have remained steady.

A Federal Reserve study showing that Americans lost wealth in the Great Recession turned up another, perhaps more surprising, result: Credit card debt fell sharply.

"The percentage of families using credit cards for borrowing dropped over the period; the median balance on their accounts fell 16.1 percent" between 2007 and 2010, the report concluded.

In a study (pdf) released today, the Federal Reserve reports that Americans saw a record drop in their wealth between the years 2007 to 2010. Driven primarily by plummeting home values, families' median net worth dropped 38.8 percent, to levels last seen 18 years ago.

Reuters reports:

Part of the Family Matters series

The Great Recession slammed into all age groups, flattening the career dreams of young people and squeezing the retirement accounts of middle-aged savers. It financially crippled many elderly people who had thought they could stand on their own.

Five years ago, a subprime mortgage firestorm was melting down the U.S. economy, but most analysts didn't see it happening.

Federal Reserve Chairman Ben Bernanke, testifying before Congress in February 2007, said the housing sector "is a concern, but at this point we don't see it as being a broad financial concern or a major factor in assessing the course of the economy."

If he and the vast majority of economists were blind to the economic and financial calamity taking shape then, could they also be missing the start of a huge economic boom now?

A boom? Really?

There's long been a big gap between the wealth of white families and the wealth of African-Americans and Hispanics. But the Great Recession has made it much worse — the divide is almost twice what it used to be.

That's according to a new study by the Pew Research Center, which says that the decline in the housing market is the main cause.

Abound Solar is nearly doubling its office space at Centerra in Loveland, adding 50 new jobs by the end of the year. KUNC’s Erin O’Toole talks with Jeff Nuttall, publisher of the Northern Colorado Business Report, about this and other developments in the local innovation economy.

The national birth rate fell 4 percent between 2007 and 2009 — more than it had in any two-year period in the past 30 years. With a national average of 66.7 births per 1,000 women between the ages of 15 and 44, nearly every demographic group had lower birth rates, with the sole exception being women over 40.

By age, the largest decline was 9 percent, among women between 20 and 24. Fertility rates among Hispanic women also dropped by 9 percent.

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