Daily Business Briefing

July 21, 2021, 7:16 p.m. ET

July 21, 2021, 7:16 p.m. ET

Credit…Ashley Gilbertson for The New York Times

The pandemic recession is officially over.

In fact, it has been over for more than a year.

The National Bureau of Economic Research, the semiofficial arbiter of U.S. business cycles, said Monday that the recession had ended in April 2020, after a mere two months. That makes it by far the shortest contraction on record — so short that by June 2020, when the bureau officially determined that a recession had begun, it had been over for two months. (The previous shortest recession on record, in 1980, lasted six months.)

But while the 2020 recession was short, it was unusually severe. Employers cut 22 million jobs in March and April, and the unemployment rate hit 14.8 percent,…

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