Recession is on the minds of many as the country continues to deal with inflation. 22News spoke with Professor of Economics John Rogers, PhD, to learn what causes a recession. As people deal with the fallout of the pandemic, including inflation, a potential recession is also causing concerns, but experts say don’t panic just yet.
“It’s not a recession that we would be familiar with such as what we had back in 2008 when a lot of people just lost their jobs. The job market is really strong that people are working and making money,” said John Rogers, Professor of Economics at AIC. “And it’s necessary that it slows down its the only way you curb inflation. At this point, the idea of a real recession is where people lose their jobs, housing prices crash, and businesses go out of business. We aren’t seeing that,” said Rogers. The full story is available on WWLP-22News.