<Tr> <Td> <Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> </Td> </Tr> <Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> <P> Following the bursting of the housing bubble in mid-2007, and the housing market correction and subprime mortgage crisis the following year, the United States entered a severe recession . </P> <P> The National Bureau of Economic Research (NBER) dates the beginning of the recession as December 2007 . According to the Department of Labor, roughly 8.7 million jobs were shed from February 2008 to February 2010, and GDP contracted by 5.1%, making the Great Recession the worst since the Great Depression . Unemployment rose from 4.7% in November 2007 to peak at 10% in October 2009 . </P>

What caused the last recession in the us