Recessions: Structural vs Cyclical

A great figure from macroblog:

The key is "81% structural; 19% cyclical". I.e. the majority of the recession was about permanent changes in the amount we wanted to spend on various industries, rather than about temporary shifts, e.g. to clean out excess supply.

Here is the same figure for the 2007-9 recession:

Again, the key number is 65/35.

Two things to note, though. First is the scale of the X axis between the two figures. The second is the placement of the federal government in the last figure.