Impact Of Recession On Job Market

Recession can be define as a decline in economic activity spread across the economy, lasting more than a few months, normally visible in GDP growth, real personal income, employment , industrial production, and wholesale-retail sales.But for an average person recession can be define as large rise in unemployment. So recession do have a direct and indirect impact on certain profession.

As we all know that US markets have a great impact on the global economic growth. And there is a recession in the US which is affecting Indian market as well as the global markets leading to a global economic slowdown Now since global economy is in recession companies need to have some kind of recesion plan with them.It can also be called as preventive measures or restructuring which can lead the large corporates worldwide for downsizing their staff, production and expenses. Even some of India's biggest companies have laid off several employees and might continue doing so in the coming months.