How The Recession Compares To Other Downturns

from National Public Radio

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.

Broadcast Dates

• All Things Considered, December 2, 2008