This chart from the Heritage Foundation kind of says it all. Payroll employment today is 5 percent lower than it was before the recession began 41 months ago.

That places the current 'economic recovery' far below all other recessions dating back to the 1960's.

Two years ago, officials said, the worst recession since the Great Depression ended. The stumbling recovery has also proven to be the worst since the economic disaster of the 1930s.

Across a wide range of measures—employment growth, unemployment levels, bank lending, economic output, income growth, home prices and household expectations for financial well-being—the economy's improvement since the recession's end in June 2009 has been the worst, or one of the worst, since the government started tracking these trends after World War II.

In some ways the recovery is much like the 1991 and 2001 post-recession periods: All three are marked by gradual output growth rather than sharp snap-backs typical of earlier recoveries. But this recovery may remain lackluster for years, many economists say, because of heavy household debt, a financial system still damaged by the mortgage crisis, fragile confidence and a government with few good options for supporting growth.

A drumbeat of disappointing data about consumer behavior, factory sales and weak hiring in recent weeks has prompted economists to ratchet down their 2011 economic forecasts to as little as half what they expected at the beginning of the year.

Two months ago, Goldman Sachs projected that the economy would grow at a 4 percent annual rate in the quarter ending in June. The company now expects the government to report no more than 2 percent growth when data for the second quarter is released in a few weeks.

Macroeconomic Advisers, a research firm, projected 3.5 percent growth back in April and is now down to just 2.1 percent for this quarter.

It's official: The housing crisis that began in 2006 and has recently entered a double dip is now worse than the Great Depression.

Prices have fallen some 33 percent since the market began its collapse, greater than the 31 percent fall that began in the late 1920s and culminated in the early 1930s, according to Case-Shiller data.

The news comes as the Federal Reserve considers whether the economy has regained enough strength to stand on its own and as unemployment remains at a still-elevated 9.1 percent, throwing into question whether the recovery is real.

"The sharp fall in house prices in the first quarter provided further confirmation that this housing crash has been larger and faster than the one during the Great Depression," Paul Dales, senior economist at Capital Economics in Toronto, wrote in research for clients.

According to Case-Shiller, which provides the most closely followed housing industry data, prices dropped 1.9 percent in the first quarter,

As the recession gripped America, thousands more people in rural and suburban areas turned to homeless shelters for help.

The number of people using shelters or transitional housing in suburban and rural areas increased 57 percent from 2007 to 2010, with more than 500,000 people from smaller communities seeking help in 2010, according to a report by the Housing and Urban Development Department. During the same time there was a decrease in the use of shelters in urban areas.

HUD Secretary Shaun Donovan said Tuesday in a conference call with reporters that about 40 percent of those who served in the armed forces come from rural areas and homelessness among Iraq and Afghanistan veterans could be a contributing factor. He said the agency is stepping up efforts to combat homelessness near some military bases, and that legislation signed in 2009 by President Barack Obama contained a component that opens the door for more programs targeting homelessness in rural areas.

There is an unfortunate adage for the unemployed: The longer folks are out of a job, the longer it takes them to find a new one.

CBS News correspondent Ben Tracy reports that the chronically unemployed face the hardest road back to recovery, and that while the jobs picture may be improving statistically on a national level, it is not for them.

Tinong Nwachan, for example, has far too much time on his hands. When CBS News met the former truck driver he had been out of work for two years.

"I don't really tell too many people this but I'm not ashamed or nothing, I'm homeless," Nwachan said.

His day job is looking for work at a jobs center in Hollywood. He has plenty of company, including Fabian Lambrecht, who wonders when the economy's improvement will affect them.

President Barack Obama's overall approval rating has dropped below 50 percent as a growing number of Americans worry that the U.S. is likely to slip into another Great Depression within the next 12 months, according to a new national poll.

A CNN/Opinion Research Corporation poll released Wednesday also indicate that the economy overall remains issue number one to voters, with other economic issues - unemployment, gas prices and the federal deficit - taking three of the remaining four spots in the top five.

Stocks extended losses after the manufacturing fell below expectations in May and the private sector added only 38,000 jobs during the month.

"Interest rates are amazingly low and that, thanks to Ben Bernanke, is driving everything," Yastrow said. "We’re on the verge of a great, great depression. The [Federal Reserve] knows it.

"We have many, many homeowners that are totally underwater here and cannot get out from under. The technology frontier is limited right now. We definitely have an innovation slowdown and the economy’s gonna suffer."
However, he said he wouldn’t sell stocks.

"Any bears out there better be careful because the dividend yields on these stocks look awesome relative to all the other investment vehicles out there," Yastrow said. "So bears are going to have to find a new way to express their discontent with the U.S. economy."

Scientists have for the first time confirmed a specific genetic link to depression, according to new evidence published in the American Journal of Psychiatry on Monday.

The discovery, made independently by research teams in the UK and US, is expected to lead to a better biological understanding of the condition and eventually to more effective antidepressants.

Depression causes serious distress to many millions of people worldwide – the World Health Organisation lists it as the fourth leading cause of disability and disease – and the way it runs in families demonstrates genetic as well as environmental causes. Yet scientists have had less success in discovering genes associated with it than for any other important chronic condition.

Several studies over the past decade have claimed to link particular genes with depression but these are inconsistent and none has been confirmed by other research.