Yep, This Is Definitely a Recession...
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Recession Watch

A recession:

20080905 Unemployment Data.xls

It's already as deep in the unemployment metric as the 1980 recession. IIRC, back then Marty Feldstein led the Business Cycle Dating Committee and called the recession before the 1980 election.

It will be interesting to see what Bob Hall's BCDC does this time...