Economists are warning that a recession now would be far worse than the recession that ended in 2007.
Today the economy has 5 percent fewer jobs, and the unemployment rate has almost doubled since the onset of the last recession.
The NewYorkTimes.com reports:
“It would be disastrous if we entered into a recession at this stage, given that we haven’t yet made up for the last recession,” said Conrad DeQuadros, senior economist at RDQ Economics.
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