It's not just the public sector feeling the pain - and there is more to come across the country, economists say.

Surely all these people losing decent paying jobs will have no impact on the economy right? Definitely not a recession right?

  • Splenetic
    3·
    28 days ago

    A recession is two consecutive periods of negative growth. So usually a “technical recession” means “we meet the criteria for a recession but we’re not experiencing the bad effects you’d expect (yet)”

    • BalpeenHammer@lemmy.nzOP
      4·
      28 days ago

      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.