How can you tell whether a recession is moderate or severe?
If the GDP in the U.S.A, or economic production, decreases by 1.2%, the economy could lose 1.8 million jobs during a mild recession
Recession is also indicated if the unemployment rate rises from its 50-year low of 3.5% to 5.4%.
Even while hiring remained high despite concerns about a recession in October, the national unemployment rate increased from 3.5% to 3.7%
A severe recession might result in the loss of 3 to 4 million jobs, a decrease in GDP of 2.5% to 2.7%, and a 7% unemployment rate
The "Great Recession," the greatest economic downturn since World War II, lasted from December 2007 to June 2009
Still, a mild recession lasting six to nine months is the option that has the highest probability