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.
Read more at NYTimes.com
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14 photos Launch gallery
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1. Officials turn the Eiffel Tower lights off, as Paris goes dark following multiple terror attacks.
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2. Victims lie on the ground after an attack on Rue Bichat in Central Paris.
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3. A young woman cries at a vigil held by a local French community in Sydney.
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4. A single rose following multiple terror attacks in the French city of Paris.
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5. Players and officials have a moment of silence for victims during the Newcastle v. Central Coast round 6 A-league match.
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6. Workers wash blood off of the floor outside of Le Carillon bar.
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7. Workers wash blood off the floor outside of Le Carillon bar.
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8. A woman sends her love.
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9. Two friends hug in the wake of multiple terror attacks in Paris.
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10. Residents leave flowers for victims and their loved ones.
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11. At least 127 people were left dead following multiple terror attacks in Paris on Friday.
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12. Residents leave flowers for victims and their loved ones.
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13. Blood from the scene following the Bataclan Theatre attack.
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