Growth recession

The term Growth Recession indicates a situation were growth is slow, but not low enough to be a technical recession, yet, unemployment increases since more jobs are lost than created. The term was created by Dr. Solomon Fabricant (New York University, National Bureau of Economic Research) and is recognized and cited more recently by business economists. Note that the term also has slightly different secondary meanings including a more general one that growth is below potential. However, the more specific meaning indicates the growth is weak and insufficient to provide jobs for those entering the labor market (see the Hoisington and Hunt reference). There may also be a third meaning referring to growth in which more jobs are actually being destroyed than created. In all cases the term indicates, Real GDP is expanding (slowly) but with job contraction, so the economy behaves or feels in many ways like a recession.