It was the worst of times. It was the even worse worst of times. It was the Great Recession of 2007-2009. It was the COVID Recession of 2020. How do the two recessions compare?
The Great Recession began after the economy peaked in December 2007, and then continued for 18 months through June 2009. It was the longest recession since the Great Depression.
The COVID Recession started in March 2020, after the peak in February. The end of the COVID Recession hasn’t been marked yet. Possibly it’s already over, because the economy grew in the third quarter. If the trough was in June, it will be a four-month recession, the shortest on record.