Over at the Federal Reserve Bank of Minneapolis,there’s this nice little tracker of relative recessions. I’ve mentioned it before, but it bears looking at again.
We’re in a pickle. If this recession feels worse, it’s because it is:
The black dot is the start of the “recovery”. The 2007 and onward recession stands out both in terms of depth and in terms of length.
Supposedly things are picking up right now, but a friend just wrote me that after many months of looking for a job, and finally finding one, he’s now been laid off again. I think there’s going to be a lot of that going around this year. I don’t see that many hopeful signs.