Word of the Week:
Recession

Definition: A recession is when the economy shrinks instead of grows. More specifically, economists typically define it as a time when GDP falls for at least two consecutive quarters. There are a few causes for this such as rising interest rates, inflation, oil prices, and shocking events.

Key Takeaway: During a recession, confidence falls, profits fall, incomes fall, and unemployment rises.

Challenge: Is your field of study (or your current job) recession proof? What is a second stream of income you could make for yourself to help you in time of need?

Fun Fact: The average length of a recession in the U.S. is about a year and a half.