Recruitonomics 101: The Fundamentals of Recessions

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Recessions are a painful, yet natural, part of economic reality. A recession is notoriously hard to define, but the most closely followed definition comes from the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER). 

The NBER committee defines a recession as “involving a significant decline in economic activity that is spread across the economy and lasts more than a few months.” Needless to say, that is pretty vague. Sometimes, the NBER doesn’t even follow its own rule; the recession that occurred in 2020 lasted only two months, but was considered deep enough that it was

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