Some indicators suggest we may be heading for a soft landing
Three of six main economic indicators for a recession in 2020-2023, compared with the recession period in 2007-2010
REAL PERSONAL INCOME
(Billions of chained 2012 dollars)
COVID-19 recession
$14.7K
$14.3K
$13.2K
2020
2021
2022
2023
The Great Recession
$11.1K
$10.5K
2007
2008
2009
2010
EMPLOYMENT LEVEL
(Number of people)
160.1M
158.5M
133.3M
2020
2021
2022
2023
146.0M
138.4M
2007
2008
2009
2010
NONFARM PAYROLL EMPLOYMENT
(Number of people)
155.1M
152.1M
130.4M
2020
2021
2022
2023
137.5M
129.8M
2007
2008
2009
2010
NONFARM PAYROLL EMPLOYMENT
REAL PERSONAL INCOME
EMPLOYMENT LEVEL
(Number of people)
(Billions of chained 2012 dollars)
(Number of people)
COVID-19 recession
$14.7K
155.1M
160.1M
158.5M
152.1M
$14.3K
$13.2K
130.4M
133.3M
2020
2021
2022
2023
2020
2021
2022
2023
2020
2021
2022
2023
The Great Recession
146.0M
137.5M
$11.1K
$10.5K
138.4M
129.8M
2007
2008
2009
2010
2007
2008
2009
2010
2007
2008
2009
2010
REAL PERSONAL INCOME
NONFARM PAYROLL EMPLOYMENT
EMPLOYMENT LEVEL
(Billions of chained 2012 dollars)
(Number of people)
(Number of people)
COVID-19 recession
$14.7K
155.1M
160.1M
158.5M
152.1M
$14.3K
130.4M
$13.2K
133.3M
2020
2021
2022
2023
2020
2021
2022
2023
2020
2021
2022
2023
The Great Recession
146.0M
137.5M
$11.1K
$10.5K
138.4M
129.8M
2007
2008
2009
2010
2007
2008
2009
2010
2007
2008
2009
2010
