How bad was the recent recession

With a 6% decline in jobs and a 5% contraction in economy, the recession in 2007 was one of the worst in the past 60 years. See the graphical display by the Bloomberg

 

US Housing starts still in the dumps

The recession might be over, however, the housing starts in the United States are still in the dumps. The annualised housing starts in January were significantly lower at 596,000 than any other January since late 1950’s. These numbers suggest that the housing market recovery in the states has not yet started.