For our MoneyWatch series “The Uncertain Economy,” Javier David, managing director of business and markets at Axios, talks with CBS News’ Anne-Marie Green about what different economic metrics mean for our current recession risk.
#news #economy #recession
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BREAKING: Recession News
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The term “recession” is often used to describe a period of economic decline. This typically happens when economic activity slows down, leading to job losses, reduced consumer spending, and a decline in overall economic growth.
So, are we currently in a recession?
The answer to this question is not straightforward. The COVID-19 pandemic has had a significant impact on the global economy, with many countries experiencing an economic downturn. The United States is no exception.
In March 2020, the United States experienced a significant drop in economic activity, leading many experts to believe that we were entering a recession. However, the government’s response to the pandemic – such as the CARES Act, which provided direct payments to Americans and expanded unemployment benefits – helped to mitigate the economic fallout.
Furthermore, as businesses adapted to new safety protocols and consumer spending habits changed, the economy began to show signs of recovery during the summer of 2020. The unemployment rate has decreased from its pandemic high, and consumer spending has increased.
However, there are still concerns that the United States could enter a recession. The pandemic is not yet over, and new variants of the virus could disrupt economic activity once again. Additionally, the labor market is still struggling to recover, with many workers still unemployed or underemployed.
Ultimately, whether or not the United States is currently in a recession is up for debate. While there are signs of economic recovery, there are still many challenges facing the U.S. economy. Only time will tell if we are able to fully recover from the impact of the pandemic.
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A recession means less spending but people are still spending cause they are um (how do I say this nicely) unintelligent. There are tons of jobs but low wages. In Orlando the average 1 bedroom is 1400 and minimum wage is $11 an hour. The stimulus checks did exactly as designed. They stimulated the economy lol that's what caused the inflation. Herd mentality. #sheeple
No we not people act like there’s no money but you see those same people on vacation new car new home
Everyone is going on european vacation? that's misleading
Oh my goodness do they actually believe what they are saying?
conggras
Food, Shelter, and Gasoline!.. Wake up! We are in RECESSION!
The economy is doing great, according to CNN fake news lol
Answer the dam question
Who dressed this man? That's all I can focus on
YES, US IS IN RECESSION NOW.
FUNNY IS TGAT PEOPLE HAVE NO IDEA ABOUT IT , PEOPLE WILL KNOW SOON.
TO THOSE WHO SPENT MONEY ON VACATION THEY WILL REGRET IT AT THE END OF THE 2022 YEAR.
GDP WILL REMAIN IN NEGATIVE FOE 3 AND 4 QUATER, ALAO STOP TALKING RECESSION DEBATE IN FUNNY MOOD IT WILL BE A SERIOUS RECESSION THROWING BILLIONS IN HELPING OTHER COUNTRIES WHILE GDP DECLINE.
He got paid to talk…if we pay double,used to pay single to get by, alot will run out of money and lose property!!!
Of course we are in a effing recession! This media b.s. is nothing but b.s.
This all sounds bad, at least my Federal welfare check, S.S. is secure.
Yea, I have to decide between food or electricity. The ultra wealthy have to decide between a yacht or a luxury apartment. Hmm… they have also had their networth 2x since the pandemic.
Pelosi: ‘We Have $60 Billion for Diversity, as We Meet the Challenge of the Climate Crisis’ in the Inflation Reduction Act
Wtf ??
Yea there are shet jobs but you gotta be making 33 $ an hr or more to survive this onslought if not its like working for free i know people thay working 2 or 3 jobs at $12 thst can't pay rent even working 16 hour days 7 days a week!
The stock market is doing it to America again. They are chasing the dollar into oblivion and we are all going to suffer the consequences.
This recession is different because the jobs market is lagging but it will catch up. In today's world it only takes a month or two for things to really go south. In January the U.S. will really be in bad shape and CNBC will be talking a different tune instead of all the Rose colored glass outlook they are known for and people will be out a LOT of cash. But they are good at making excuses, they are not in the business of taking responsibility, just getting people to buy buy buy.
Yes
Once the holidays start then everyone will start shopping again. It’s a cycle. The reality of inflation, rate hikes, high gas prices, lots of hiring by every company seems like a recession is inevitable but hopefully it’ll not last long. Plus, the economy will definitely slow down eventually and it’s only a matter of when.
You can thank them Biden Administration for this hot mess. Come on maannnn
When they mention all the "job openings" they don't understand companies keep posting them to get more PPP or to get what's already been given to be forgiven. Secondly these are not good jobs. There's are like Taco Bell, and Mcdonalds.
I think people are just changing jobs work from home and they won’t know how many til next year.
This is some of the worst macro I have ever seen: high energy cost, short supply of almost everything, rising interest rates, geopolitical risk from both Russian and the PRC, unsustainable gov't spending and debt loads, and the Fed unloading bonds off its balance sheet. People are already losing their jobs–the gov't cooks the books and underreports. This is actually much worse than the 1970's…..I wonder how much these people are getting paid to lie through their teeth?
YES. but the merchandise, credit card, gas and food and media companies will tell you we are not. Our own government will tell you we are not…..but we clearly are. When product size is shrinking and prices go up, when homes are 60% above value and we, state agents keep saying “now is the time to buy….” it’s a su let’s game. You either drink the coolaid and flow the stream or see the issue and avoid the mess….
Let's just say we are not getting rich right now.
I’m in retail, people are now starting to pull back in the next couple of months , it going to get worse.
If your Walmart is struggling , and others retailers are struggling, than you know it’s bad.
Is there still 12 million job openings? People need to get back to work lately. The stress on everyone that works in short staffed businesses have been feeling it for a while and are sick of it.
YES< YES< YES YES!!!!!!!!!!!!!!!!
Because the last 50 years of the so called US politicians.. from GOD knows "WHERE" wrote checks the treasury couldn't cash…..Poor people call them as well as "BANK" NSF's..(NON-SUFFICIENT FUNDS"""" . RICH PEOPLE call them… "OVERDRAFTS" HEHEHEHEHEHEHEHE
THIS would put the average guy in jail!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
SO what is it "AMERIKA" NSF or Overdraft????????????????????? NEed help?????… they are
NSF's
Biden administration has authorized and redefined "recession."
Question: What is a recession?
Dems: I am not an economist.
No. We're in a "special economic retraction."
We have evolved from a capitalist society to a feudal one. And they are just not efficient.
Money has pooled at the top and there is a lot of money that was printed. We have a split society. Half are dying while half are living on their ppp lamps and mommy and daddies money.
George Carlin had a skit on "soft language", ie shellshock is now posttraumatic stress disorder.
Recessions are now transistory economoc cycles.
People are spending, but yes what are they spending it on? People might be buying only practical things they can use and not on leisurely things. The job market is still high specifically for all government jobs since high inflation caused such a massive tax revenue. Once that tax revenue dries up then we'll start to see the layoffs.
1% of the American population died in 2021 guys, for real. 3.5 million people
There are not job openings like that..
yea we are. wake up people.
As the economy crisis keep rising, one needs to have different streams of income, a well detailed diversified investment portfolio in the financial markets is needed to survive, as well as secure a profitable investment future! Wondering if viewers here are familiar with Logan Willie trading strategies
Anyone else here because they got laid off because of a “Resection”
Yes I took a the risk already and they makes it to my expectations % Maskoffweb % you’re really the best