Unemployment is a major issue in today’s US economy. But, many people are looking for jobs even though they are not satisfied with their current jobs.
Careers are essential in helping people earn an income, but some people limit their possibilities by staying in a job they are not happy with.
Employers also have the power to encourage employees to pursue new opportunities by offering lower pay rates during a recession. Therefore, all personnel should stick to their dreams and ambitions even if they are not earning enough to support themselves.
Job loss can happen at any time due to different reasons. For example, you can lose your job due to economic changes, globalization, or technological advancements. You also may lose your job if you are fired or you resign under pressure from your boss.
Economy Recession
“A recession is a downtrend in the economy that can affect production and employment” according to Google.
In a recession, employers usually reduce their personnel costs by giving lower pay rates to new and existing employees alike. This is because they want to reduce their monthly expenses while maintaining their profits. For example, the huge lay off that happened to very known companies like Meta.
Therefore, it is important to look for opportunities even during difficult times since you may find better-paying positions that suit you better than what you currently have.
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Recession vs Depression
Both of these terms are used in the economy. so the great depression was long and sad while recession is shorter in terms of length and a little sad.
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