For years, I’ve defined recession as a financial condition causing stress-related indigestion, sensation of lightheadedness at the gas pump/Wal-Mart, and a recurrence of aberrant thoughts, such as: “Hmmm, generic Peanut Butter isn’t so bad.”
Turns out, these aren’t symptoms of a recession at all.
ETSU economist Steb Hipple told the Times-News that technically, the nation is not in a recession, which is defined as two quarters of decline in real gross domestic product (GDP).
“Yet real GDP has not declined and has actually shown modest growth over the past six months. But the labor market does not seem to know this — employment is flat and unemployment is up,” Hipple said.
Good to Know. Doesn’t help me much, but still good to know.