Quote

A normal recession disrupts people's lives, but a long recession destroys them. You lose output, prosperity, family stability, self-esteem, and many other qualities on what looks to be a semi-permanent basis.

There will always be a business cycle, and white-collar workers will get hit in the next recession like they always do in recessions.

The job numbers are positive. We've had more jobs created now than were lost during the recession. We're seeing that the creation, we're seeing those numbers not only grow but shift toward the private sector and shift toward full-time employment and these are all signs that the recovery is taking some hold but we're not out of woods.

Not every business cycle has a financial crisis. Frequently they do.

It's a recession when your neighbor loses his job; it's a depression when you lose yours.

Even when America's economy has been by all measures healthy and the unemployment rate low, some businesses suffer or fail and lay off workers. But nearly always, a simultaneous and even greater burst of new jobs has been created to offset the jobs lost - millions of new jobs every year.

Recession is when a neighbor loses his job. Depression is when you lose yours.

There were a lot of manufacturing jobs lost over a long period of time and particularly after - during the Great Recession. We've had some recovery in manufacturing employment as the economy's recovered.

Though the National Bureau of Economic Research deemed the recession to have ended in June 2009, to most Americans, that conclusion seems not to square with reality.

The economy has barely recovered from the so-called 'Great Recession', with a 2 percent annual rate of growth since mid-2009. Peak worker wages, business investment, and productivity all occurred around the year 2000.