National Bureau of Economic Research: U.S. Officially in Recession
The U.S. economy did in fact enter a recession as the coronavirus crisis took hold in the U.S., according to a group of economists.
It ends more than a decade of slow, steady growth.
A group from the National Bureau of Economic Research says the U.S. is now in a recession. The trade group says we have been in in one since February.
Economists say employment peaked in February, then fell fast afterwards, marking the beginning of the downturn.
The word recession isn’t just assigned randomly. A committee in the National Bureau of Economic Research determines when a recession begins and ends.