The US economy has grown for 121 consecutive months following the Great Recession, marking the longest economic expansion in American history.

The economy has been on a growth spurt since June 2009 and now surpasses the previous record expansion set between March 1991 and March 2001 before the dot-com bubble burst.

The decade-long expansion has been fueled by job growth, record-low unemployment rates and low interest rates.

There were 21.4 million jobs created during the expansion after a loss of 9 million during the recession.

In another positive sign, wage increases over the last three years have been healthiest among the lowest-paid workers — showing a narrowing of the wage gap between high and low earners.

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