Nov 5, 2025 · There’s a joke in economic circles that a recession is when your neighbor loses their job, and a depression is when you lose yours.

A depression is when wages are cut so low no one makes enough to live on and a recession is when the price of everything goes up so high no one makes enough to live on.

Apr 9, 2025 · In a recession, the financial toll on households and businesses is significant, but manageable. In a depression, it’s overwhelming. Recession and depression are both terms for a …

A depression refers to a sustained downturn in one or more national economies. It is more severe than a recession (which is seen as a normal downturn in the business cycle).

Mar 17, 2025 · A recession is a decline in economic activity lasting over a few months. A depression is a more severe recession, but there has only been one major economic depression in the US.

Sep 26, 2025 · Recession — a decline in economic activity lasting several months, marked by falling GDP, rising unemployment, and reduced consumer spending. Depression — a much deeper and …

Dec 22, 2022 · A recession is a widespread economic decline that typically lasts between two and 18 months. 1 A depression is a more severe downturn that lasts for years. The most famous depression …

Nov 27, 2025 · A recession is a milder economic downturn that can lead to a depression if it is not addressed properly. A depression, on the other hand, is a more severe and prolonged economic …

What Is an Economic Depression? A depression is an economic contraction similar to a recession, but longer and more severe. Like recession, depression doesn’t have a specific definition,...

Aug 22, 2023 · Knowing the difference between a recession and a depression is crucial for navigating economic uncertainty. While recessions are painful but temporary, depressions can have long …