Recession, Great Recession, Longest Postwar recession for U.S.?

U.S. May Be in for ‘Great Recession,’ Longest Postwar

Dec. 2 (Bloomberg) -- The U.S. economy, now officially in recession, may be in the midst of the longest slump in the post- World War II era as job losses mount and credit dries up.
The economic slump began in December 2007 when payrolls reached a peak, the business cycle dating committee of the National Bureau of Economic Research, a private, nonprofit group of economists based in Cambridge, Massachusetts, said yesterday. The last time the U.S. was in a recession was from March through November 2001, according to NBER.
“We’re looking at some pretty severe numbers for the fourth quarter, and the first quarter of 2009 will be pretty bad as well,” said Stephen Stanley, chief U.S. economist at RBS Greenwich Capital in Greenwich, Connecticut. “The economy isn’t going to turn around definitively until the credit markets unclog.”

U.S Economic Strength - Treasury Economic update 11-26-08 (PDF Download)