Ed Friedman is a director with Moody’s Economy.com, a division of Moody’s Analytics. He provides monthly summaries of the U.S. financial industry and maintains a high-frequency econometric model used to estimate current-quarter GDP. Friedman: “All the dimensions of this recession are the biggest since the 1930’s and 1940’s, since the Depression. The depth of the recession is among the largest — we will see more than four million jobs lost by the time we are done, and that will represent nearly 4% of total non-farm employment.”]
Source: https://www.cuinfosecurity.com/2009-economic-outlook-interview-ed-friedman-moodys-economycom-a-1178