Recessions and Employment Change
The National Bureau of Economic Research, a U.S. organization that dates business cycles, recently announced that the current recession (shown as a shaded area on the charts above) began in March 2001. Because the NBER waits until the data show that an economic downturn is large enough to qualify as a recession, its announcement may come some time after a downturn has begun.
Suggested citation: "Recessions and Employment Change," Federal Reserve Bank of Cleveland, Economic Trends, no. 02-02, pp. 13, 02.01.2002.