Monday, January 19, 2009

The Recession Lab: bad but not that bad

Our good friends at the Federal Reserve have analysed the current recession against ten previous postwar recessions. When it comes to employment changes, the current recession is still doing better than the median of previous ones:



1employment_length_large




Looking at output (GDP), things look even better – only now have a fall in output touched the level of a mild recession:


2gdp_length_large



The graphs should not be seen as forecasts.




Jan 19, 2009 12:00:00 AM | Current Affairs, Economics

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The Recession Lab: bad but not that bad Our good friends at the Federal Reserve have analysed the current recession against ten previous postwar recessions. When it comes to employment changes, the current recession is still doing better than the median of previous ones: Looking at output (GDP),...

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