Could just be a timing issue. Recessions are measured on quarterly performance, this is annual. So you could have two quarters of negative growth in a row (a re

Could just be a timing issue. Recessions are measured on quarterly performance, this is annual. So you could have two quarters of negative growth in a row (a recession) and still have overall positive growth for the year. Also, wages/employment are sticky because of the friction in changing them... companies will generally change comp slower than the change in sales (in both directions.)