In the meantime, a gloom is spreading through the region like that of past downturns.

In addition, Safety-Kleen has nearly saturated the domestic market for its older businesses, leaving less room for growth during a recession than in past downturns.

Certainly more than in any past downturn.

She said the collapse was different from past downturns because this time there were no warning signs.

In past downturns, Mr. Murta recalled, he was able to fall back on being a consultant to the industry for $200 to $300 a day.

In addition, many women who lost their jobs in past downturns simply dropped out of the labor force until the economy improved.

During past downturns, many of today's unemployed workers were able to switch to healthier parts of the economy, using skills that applied to more than one job.

That would be quite a departure for the world's largest aircraft manufacturer, which has dealt with past downturns by laying off tens of thousands of workers.

Stephen B. Shepard, the editor in chief of Business Week, said the current slump had more disturbing elements than past downturns.

Although the shipping industry witnessed some past downturns however current numbers show increasing records and expanding activities.