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“The recession is over!” Or so economists and politicians like to claim. That statement is true if we define the term “recession” by the growth in Gross Domestic Product (GDP). But when we define recession by its impact on the economic and social wellbeing of states, a very different story emerges. And while families across the nation continue to take a recessionary pounding, families of color are feeling even greater pain. The recession is not over – it is just hitting its stride.
In October 2009, CSI released a sobering report, the 2009 Recession Impact Index, which analyzed the recession’s impact on states. Instead of relying on GDP and job growth alone, we devised an alternative measure. Our multi-variable analysis focused on the heart of people’s interests and needs—healthcare, jobs, affordability, and poverty, among other factors—and revealed a picture of the deep economic pain Americans faced, especially in states with significantly high percentages of residents of color.Learn More