Here’s a chart from a Floyd Norris at NYT comparing eight recessions since the 60s. Although still not as bad as the Great Depression, the current one we have, which began in late 2007s is becoming the worst and longest since that time. Four measures were used to compare the recessions then and now – we are already worst in two of them.
Data are collected for the Index of Coincident Indicators by the Conference Board, a private organization.
From among the four, we are still a bit far from beating the decline in personal income and manufacturing and sales. Floyd however contends that the income should be much less if it excluded the cost of health benefits and only includedwage and salary receipts. He adds that while industrial production’s been worst in decades, it is still better than in some countries particularly those in Asia.