The recession is when my neighbor is unemployed, depression when it is I who is unemployed.
Recession affects every one though.
The U.S. government is trying hard to get out of recession and the chairman of the Federal Reserve System has reduced the rate of interest continuously so that it is now at the lowest level. The real estate prices have also fallen low. For the first time in many decades, a house may turn out to be a bad investment. The stock market on the other hand is going strong. Many people now wonder if it has not overreached.