Who Really Fuels Our Economic Recovery?
A recession is coming will you help or hurt?
According to the Feds, the last recession ended in 2009. We had a pseudo recession due to Covid over 2021–22.
The definition of a recession is two or more consecutive quarters of negative growth in our GDP (Gross Domestic Product).
In other words going broke slowly.
And while the recent levels of GDP growth since 2009 have been up and down due in part to the Middle East and Covid, it’s still considered a positive economic sign.
Jobs or Work?
It’s the old chicken and egg question.
Does economic recovery mean jobs or work? You might ask, “Aren’t they the same thing?” Here’s the difference.
We always have work but there are not always jobs. For example, in Montana, with our low population there is great difficulty of many companies to find employees with the experience they need.
We’re the fourth largest state with just over one million in population.
We currently have an unemployment rate of 2.3 percent. At a labor force participation rate of 62.1 percent, Montana ranks 27th in the nation.