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Julius Shiskin (October 13, 1912 – October 28, 1978) was an American economist. [1] He is known for his contributions to establishing rules in the field of economic statistics. His 1974 unofficial rule-of-thumb definition of a recession continues to be considered by many as the official definition. [2] He authored two books and numerous ...
An economic depression is a period of carried long-term economic downturn that is the result of lowered economic activity in one or more major national economies. It is often understood in economics that economic crisis and the following recession that may be named economic depression are part of economic cycles where the slowdown of the economy follows the economic growth and vice versa.
For other uses, see Recession (disambiguation). In economics, a recession is a business cycle contraction that occurs when there is a period of broad decline in economic activity. [ 1 ][ 2 ] Recessions generally occur when there is a widespread drop in spending (an adverse demand shock).
While warning about a 25 percent chance of an economic downturn, ... Labor Statistics data showing a July slowdown in US job growth — 114,000 new jobs added, missing expectations of a 175,000 ...
A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. Economic Recessions in the U.S. Recessions are a normal part of the business ...
That may be why there's a rabid interest in projecting when the next recession will come. The benefits of such a call vary. It can help, or hurt, political parties amid an election year. It can ...
The 1948 recession was a brief economic downturn; forecasters of the time expected much worse, perhaps influenced by the poor economy in their recent lifetimes. [62] The recession also followed a period of monetary tightening. [40] Recession of 1953: July 1953 – May 1954 10 months 3 years 9 months 6.1% (September 1954) −2.6%
Sahm rule. In macroeconomics, the Sahm rule, or Sahm rule recession indicator, is a heuristic measure by the United States' Federal Reserve for determining when an economy has entered a recession. [1] It is useful in real-time evaluation of the business cycle and relies on monthly unemployment data from the Bureau of Labor Statistics (BLS).