![]() (For instance, some Baby Boomers, who were born starting in the mid-1940s, have lived through nearly a dozen.)Įconomists typically define a recession as occurring when the economy endures two or more consecutive quarters of decline, in terms of the growth rate of the country's gross domestic product (GDP). ![]() In fact, recessions are fairly common occurrences and the odds are that every generation is likely to live through their fair share of them. Louis Federal Reserve shows that Gen X-ers, on average, had twice the total assets at the time of the 2008 crisis as does the average millennial who now finds themself on the precipice of another recession.) Of course, Generation X-ers (those born between 19) are quick to point out that they've also suffered through the same financial crises as their younger colleagues, plus even more, including the dot-com bubble bursting at the turn of the century.
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