US in Worst Episode of Prolonged Unemployment Since Depression

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There is no question that the American economy is in bad shape. Unemployment has only been this high one other time since World War II, i.e. in the 1980’s. Recessions similar or deeper than this recession occurred in 1918, the Great Depression, the 3 recessions of the 1950’s, and the stagflation of the late 1970’s and early 1980’s.

Adjusting for demographic factors, current labor market downturn steeper than '82-'83
recession.

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