How do we know if we're going through a recession?

Scripps News interviewed Sunyee Yoon for a story about whether or not the U.S. is headed for a recession. In it, Yoon explained the "Lipstick Effect," an economic indicator credited to former Estee Lauder chairman Leonard Lauder, who noticed a rise in lipstick sales during the post-9/11 recession. "As income declines during the economic recession, women purchase lipsticks or cosmetic products instead of expensive clothing or expensive jewelry in order to treat themselves in a more affordable way," she said.