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The comparison used for a two-year recession recovery was from the 1930's, mid-1970's and 1980's. To compare present day events with situations that occurred more than 20 years prior is not significantly relevant to the case at hand. Times have changed; economy is not what it was in the 1930's. What exactly is a recession? According to CNN Money...
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What exactly is a recession? According to CNN Money.com, 9/6/01, the possibilities of a recession is commonly defined as two consecutive quarters of shrinking gross domestic product, at between 15% and 20%.
I must agree with Zuckerman that the international competition and outsourcing has been a major contributor to the unemployment market...
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