Pictured above is a graph showing periods of recession in the United States since the end of World War II.There have been ten such incidents of recession since World War II, and, it is likely they are in the middle of number 11 – a recession, on average, every 6 years for the past sixty.
Nonfarm payroll employment declined by 159,000 in September, and
the unemployment rate held at 6.1 percent.Employment continued to
fall in construction, manufacturing, and retail trade,while mining
and health care continued to add jobs.
Unemployment — now at 6.1 percent — is expected to hit 7.5 percent or higher next year. And millions of Americans have been watching their retirement nest eggs and home values shrivel.
One-third of Americans are worried about losing their jobs, half fret they will be unable to keep up with mortgage and credit card payments, and seven in 10 are anxious that their stocks and retirement investments are losing value, according to an Associated Press-Yahoo News poll of likely voters released Monday.