Recession or Depression?

I know this isn't new to anyone who's brave enough to open their 401K statements, works in a bank or human services, knows more than 5 or 6 people or you know, has eyeballs, but the actual graph made me stop and think. And I'm not thinking anything good.

If you are having trouble reading the fine print: The blue line shows job losses in the 1990 recession; the red line is 2001, and the grayish-green line is the path we are on now.
To clarify, these are not projections. This is actual job-loss data.

Source: Swampland