Would you believe that The Federal Reserve Bank of Minneapolis has posted several interactive infographics? First you can take a look at the change in the U.S. employment for past recessions all the way back to 1948. Then you can take a look at how fast the U.S. employment situation changed during the recoveries. Next, you can look at the the change in U.S. output for past recessions. Then you can take a look at how fast U.S. output changed during the recoveries. They also allow you to take a look at how the past recessions have affected your state. I am very impressed with them for making this data easily available.
The 2007-2009 recession is widely thought to have ended sometime last summer. How bad was this recession, and how quickly is the economy recovering? How does this recession and recovery compare to previous cycles?
The official month (quarter) marking the end of this recession, and the start of the recovery, has yet to be determined (see discussion below). Until the official date is announced, July 2009 (the third quarter) is used as an estimate.
Hat Tip to The Big Picture.
