[epolanski]

Also, IT and R&D has been likely impacted less than other departments like HR and recruiting.

There's no doubt that for the next few years we're not gonna see the levels of compensation raise we've seen in the last 24 months, but it's not "end of an era" rather than a correction imho.

[georgeplusplus]

It's not a recession, it's just two quarters of consecutive falling GDP. Screw what the textbooks say. It's only a correction.

[kasey_junk]

GDP grew last quarter.

[dr_dshiv]

Yeah, but a few more disorganized unwinding events like ftx and things could keep correcting for a while to come.

[SantalBlush]

Show us a macroeconomics textbook used in the US that says this.

[SantalBlush]

From Boyes and Melvin, Macroeconomics, 8th edition, 2008, pg. 135:

>The official dating of recessions in the United States is the responsibility of the National Bureau of Economic Research (NBER), an independent research organization. The NBER has identified the shaded areas in the graph in Figure 1 as recessions and the unshaded areas as expansions. Recessions are periods between cyclical peaks and the troughs that follow them. Expansions are periods between cyclical troughs and the peaks that follow them.

>The NBER defines a recession as “a period of significant decline in total output, income, employment, and trade, usually lasting from six months to a year, and marked by widespread contractions in many sectors of the economy.” People sometimes say that a recession is defined by two consecutive quarters of declining real GDP. This informal idea of what constitutes a recession seems to be consistent with the past recessions experienced by the United States, as every recession through the 1990s has had at least two quarters of falling real GDP. However, this is not the official definition of a recession. The business cycle dating committee of the NBER generally focuses on monthly data. Close attention is paid to the following monthly data series: employment, real personal income less transfer payments, the volume of sales of the manufacturing and wholesale– retail sectors adjusted for price changes, and industrial production. The focus is not on real GDP, because it is measured only quarterly and does not permit the identification of the month in which business-cycle turning points occur.