this post was submitted on 20 May 2024

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

submitted 5 months ago by BalpeenHammer@lemmy.nz to c/politics@lemmy.nz

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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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[–] BalpeenHammer@lemmy.nz 4 points 5 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.

[–] TheChurn@kbin.social -1 points 5 months ago (2 children)

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

[–] BalpeenHammer@lemmy.nz 1 points 5 months ago

Who is the "we" you are talking about?

[–] kaffiene@lemmy.world 1 points 5 months ago

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