NPR logo

How The Recession Compares To Other Downturns

  • Download
  • <iframe src="https://www.npr.org/player/embed/97713903/97713887" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
How The Recession Compares To Other Downturns

Economy

How The Recession Compares To Other Downturns

How The Recession Compares To Other Downturns

  • Download
  • <iframe src="https://www.npr.org/player/embed/97713903/97713887" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

The National Bureau of Economic Research, which is responsible for assessing economic cycles, announced Monday the U.S. economy has been in a recession for the past 11 months.

Jeff Frankel, a Harvard professor and a member of the NBER's Business Cycle Dating Committee, says this recession is already longer than the preceding two recessions — 2001 and 1990-91 — as well as longer than the average post-war recession (10 months).

Speaking in a personal capacity, Frankel says the recession is likely to be the longest since the end of World War II and unlikely to end in the next few months.