from 'Chart Book: The Legacy of the Great Recession'
"In the fourth quarter of 2012, the demand for goods and services (actual GDP) was about $975 billion (5.8 percent) less than what the economy was capable of supplying (potential GDP). This large output gap, which is manifested in a high rate of unemployment and substantial idle productive capacity among businesses, is the legacy of the Great Recession. Congressional Budget Office projections show the gap closing slowly over the next several years as actual GDP grows only moderately faster than potential GDP.
GDP grew at a 0.4 percent annual rate in the fourth quarter. A period of growth of 4 percent or better would be needed to propel the economy back toward full employment more rapidly."