Markets Insider
Carmen Reinicke, Jul. 2, 2019, 01:06 PM

The US economic expansion and recovery from the Great Recession officially made history on Monday July 1: The 10-year, 121-month expansion that started in June 2009 is now the longest ever.

The previous record was set during the 120-month expansion from March 1991 to March 2001, according to the National Bureau of Economic Research. It ended as the dotcom bubble burst.

While the current expansion is a record breaker, it's also been one of the slowest. Gross Domestic Product has grown 25% cumulatively since the start of the expansion, which is lower than other booms on record. The unemployment rate sits at 3.6%, its lowest point since 1969. It is down from a peak of 10% in October 2009, but job growth took much longer during this recovery than during other recoveries postwar. Read more.