Employment In the United States the unofficial beginning and ending dates of national economic expansions have been defined by an American private non-profit research organization known as the National Bureau of Economic Research (NBER).
The NBER defines an expansion as a period when economic activity rises substantially, spreads across the economy, and typically lasts for several years.
Economic growth since 1945 has been more stable with fewer recessions when compared to previous eras.
The listed dates and durations are from the official chronology of the National Bureau of Economic Research.
[1] The National Bureau of Economic Research dates expansions on a monthly basis.