Is it really recession time?

No, don't get it wrong. This article is not a part of series of depressing,monotonous articles about the effects of recession. Neither am i talking aboout the massive number of layoffs.
What i want to discuss here is that is the situation really so bad. I am a HR person and i am still struggling to fill the ever increasing job requirements. On the top of it candidates decline the offers given to them.So i look at disbelief when i hear about recession. You move out of your house and chances are you wouldnot find a single shop that is offering genuine discounts because of recession.

Most of the companies have got an opportunity to terminate underperforming employees on the pretext of recession.The situation might be glum but things are not as bad as the media and companies are making it appear.

What do you think about the same?