Source:  Dr. Mike Walden, NCSU COLLEGE OF AG & LIFE SCIENCES, 8/26/22

Debates are still raging over whether the economy is in a recession. While the economy has met one litmus test for a recession of two consecutive quarters of negative growth in GDP, or gross domestic product, doubters point to the still strong job market. In recent months, hundreds of thousands of jobs have been created, and unemployment remains very low.

This situation has raised an interesting question. Could a recession happen, but the labor market doesn’t participate? That is, for the first time in my memory, could we have a recession without big job losses and jumps in unemployment?

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