WEBVTT	#Elemental Media Engine(TM) 2.17.1.0

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not we're in a recession and if
not, if one's
coming.

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But what would a recession mean
for you?

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A recession is a significant
decline in economic
activity that lasts for months
or even years.

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During a recession, Americans
may lose their
jobs.

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Others might see cuts in pay and
benefits and
struggle to get raises.

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Investments in stocks, bonds,
real estate and
other assets can lose value when
business owners

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typically make fewer sales, and
some,
unfortunately, are forced into
bankruptcy.

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Lenders might also tighten
standards for
mortgages, car loans and other
types of financing.

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Now, the good news here is that
even though we've
seen two consecutive quarters of
declining GDP,

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which is the rule of thumb for a
recession,
nonfarm payrolls continue to
grow, unemployment is

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at a 20 year low, and wages are
rising by the
highest rate since at least
1998.

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So it seems even if we're in a
recession, by that
traditional definition,
Americans might not feel

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this economic decline quite like
they did during
recessions past.

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Officially, the NBER declares
recessions.

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It uses multiple factors beyond
just GDP in
making its determination, and it
hasn't made that

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call quite yet. So whether or
not we're in a
recession might and might not
matter to you,

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depending on your personal
circumstances.

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I'm Emily Lorsch for CNBC.

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Have any personal finance or
money questions?
Comment below.