First, while the National Bureau of Economic Research (NBER) Business Cycle Dating Committee identifies national recessions
, neither it nor any other comparable organization dates state-level recessions
(9) Our national coincident index, which was created at the same time as the state indexes for comparison purposes, is relatively well behaved, capturing all five NBER recessions
as uninterrupted declines in activity, interspersed with uninterrupted increases in activity, or expansions (Figure 1).
Figure 1 shows the relationship between the decline in GDP and employment for all 11 recessions
. The size of the bubbles represents the length of the recession
He defines a profits recession
as when a rolling 12 months worth of earnings are flat or lower compared with those of the year before.
That was the longest recession
on record since the Great Depression.
The global financial crisis of 200809 contributed to national recessions
of varying severity.
The Great Recession
was significantly associated with a lower incidence of health care utilization (Lusardi, Schneider, and Tufano 2010; Dorn et al.
What if the signals turn out to be correct, not a false alarm, and another global recession
-- Industry: The trials and tribulations of the manufacturing sector caused at least three recessions
in the first half of the 20th century, but industry doesn't often make or break American prosperity these days.
The next recession
will start as a demand shock, (https://www.cnbc.com/2019/07/22/morgan-stanley-sees-credible-bear-case-for-a-us-recession.html) according to Ellen Zentner , Morgan Stanley chief U.S.
2 The inverted yield curve: a song of policy tightening and recessions
Entering the labor market during a recession
can adversely affect a worker's future earnings and employment perspectives.