Insight
The article highlights the subjectivity of recession definitions, particularly the lack of a standard definition and the reliance on the National Bureau of Economic Research's (NBER) subjective assessments.
New Recession Indicator Shows Americans Worse Off Than We Thought
Summary
This article discusses a new recession indicator that measures the financial health of the average American, emphasizing real wage growth and unemployment. Hosts should be aware of broader economic trends, as factors like inflation and employment impact guest spending and overall STR profitability.
Key takeaway