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Another 26,000 'will be unemployed' before peak reached (www.rnz.co.nz)

submitted 6 months ago by [email protected] to c/[email protected]

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Surely all these people losing decent paying jobs will have no impact on the economy right? Definitely not a recession right?

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[–] [email protected] 3 points 6 months ago (1 children)

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)"

[–] [email protected] 4 points 6 months ago (1 children)

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.

[–] [email protected] -1 points 6 months ago (2 children)

Well 'we' aren't actually in a recession. Economic growth in the US has been positive the last several quarters.

[–] [email protected] 1 points 6 months ago

Possibly in NZ Politics the "we" context would be obvious?

[–] [email protected] 1 points 6 months ago

Who is the "we" you are talking about?