Plain-English definitions for the terms you'll encounter on your financial journey.
Unemployment that results directly from cycles of economic upturn and downturn. It rises during recessions and falls during periods of economic growth.
A significant decline in economic activity spread across the economy, lasting more than a few months. It is traditionally defined as two consecutive quarters of negative GDP growth.
The lowest point of the business cycle, marking the end of a recession. It is the transition point before the economy begins to enter a new expansionary phase.