Even though the current recession may be hitting you hard, it is important to know that this is not the first time that the United States economy has gone through this. Believe it or not, there have been many recessions in past years and it is safe to say there will be more in the future. As a citizen, it is good to know the US economic recession history so you understand what has happened in the past and how this affects you now.

The first recession in the United States took place between 1797 and 1800. This was known as the panic of 1797, and was caused mainly by the Bank of England attempting to bring business to the United States.

Next in line was the recession that lasted from 1807 to 1814. This was a very serious problem, and for this reason was given the name the Depression of 1807.

After recessions in 1819 and 1837, the country faced another similar situation in 1857. During all three of these recessions failing banks were common.

The recession of 1926 was followed by the Great Depression in the early 1930s. This is undoubtedly as bad as times as the country has ever faced.

From 1980 to 1980 a recession due to the Iranian Revolution plagued the United States economy. This led to a spike in the cost of oil all over the world.

When the dot com bubble busted in 2001, this started a recession which fortunately only lasted eight months.

As you can see, the United States has a long history of recessions. The one that is currently plaguing the country is more serious than many of those in the past due to its extended length. Now that you know more about the US economic recession history you should have a better understanding of this topic and what it means to you.

Are you worried that you will be the next person to be laid off at your company? If so, you are not alone. Hundreds of thousands of Americans have been laid off due to the deepening recession. Fortunately, there are some jobs that are considered to be the best during a recession. If you work one of these jobs or can get involved in anyway you are definitely giving yourself the chance to survive for the time being.

Many of the best jobs in a recession are already filled. That being said, there are some that are still open; you just have to find them and then determine if you are eligible to apply.

Health care jobs are some of the best to having during a recession. No matter what is going on with the economy it is safe to say that people will still need to seek medical care. This is why health care jobs are stable now, and probably will be for quite some time. Those in this field should feel relatively secure. If you are looking for a job, and are qualified to work in the healthcare industry, keep your eyes open. There may not be many open positions, but it only takes one.

Natural resource and mining jobs are also good to have in a recession. These industries have seen steady growth over the past year, and there are no signs of this slowing down.

If you are one of the many people who are pursuing a job during the recession consider the following industries: energy, education, public safety, accounting, sales, military, consulting, politics, and debt collection.

Do you know the difference between a depression and a recession? If not, you may be scared that the United States is in for a depression soon enough. Simply put, it is important to know the ins and outs of the depression vs recession debate. The fact of the matter is that there are many big differences, and you need to know what they are if you are interested in your money as well as the economy as a whole.

First off, let’s take a close look at the definition of a depression. This is a sustained downturn in one or several of the national economies. Simply put, a depression is more severe than a recession. It is important to know that there is no exact definition of a depression, and that the United States has not seen one since the 1930’s.

On the other side of the debate, a recession is a phase of the business cycle in which the gross domestic product is negative for at least two quarters. A recession is usually first visible in employment numbers, income, retail sales, and industrial production.

The depression vs recession topic is sure to be a hot one as long as the economy continues to struggle. To remember the difference keep in mind that a depression is a form of recession in which there are unusual negative changes to the country’s job markets, income, credit, and investments.

The more you know about depression and recessions the better off you will be. It is important to know the details of the depression vs recession debate; this will help you as a consumer.