Is America in Recession?
Official numbers say the U.S. isn’t in recession—does real life feel different?
America is in a 4 income economy - the number of typical incomes needed to reliably meet basic bills (rent,transpo,food,utils) in most markets.
I've lived thru 8 recessions, none had achieved this level of difficulty. None had so completely barred new entrants to society.
If you are talking about as defined by NBER there is no “official numbers”. Recession by that definition is a) not a fixed set of numbers, the board determines it each time based on lots of different things and they aren’t necessarily the same metrics every time and b) explicitly a backwards looking descriptive designation. Most of the time you will be _through_ a recession before it’s declared.
They’re running out of cards to stack up in the form of a house
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Not sure about the US, but IT industry in Canada definitely is in a recession. When good graduates from Waterloo CS cannot find an entry level job, you know something is wrong.