Surely all these people losing decent paying jobs will have no impact on the economy right? Definitely not a recession right?
Surely all these people losing decent paying jobs will have no impact on the economy right? Definitely not a recession right?
What’s the difference between a technical recession or an actual recession. Words are supposed to have meanings and recession is a well defined term with globally accepted measurement metrics.
If we are technically in a recession it means we are in a recession.
A recession is two consecutive periods of negative growth. So usually a “technical recession” means “we meet the criteria for a recession but we’re not experiencing the bad effects you’d expect (yet)”
The point is that the word recession has a meaning, the meaning is accepted worldwide, and we are in one. I would also dispute that we are not experiencing the bad effects. The polls seem to indicate the public is feeling quite a bit of pain.
Well ‘we’ aren’t actually in a recession. Economic growth in the US has been positive the last several quarters.