The Great Recession

A recession is usually a period of time that lasts for about six months and the economy declines significantly. That includes ruining one's finances, employment going down, unemployment going up inclining to ten percent, income going down, and prices of products also going down. The unemployment rate is the most common method to determine the health of an economy. It is the measure of individuals who are not currently in the work force. Having a job during a recession is probably the most important thing. During a recession, all businesses have a slowdown in their manufacturing and their production so that causes them to have to fire of lay off their employees. To keep the income coming in, you have to keep your job. Having no money during a recession is very dangerous especially if you are still paying off a loan for …show more content…
Unemployment is probably one of the biggest problems in a recession. Out of all the negative sides of a recession, there are some benefits to it. The first and probably the most important benefit is that you realize a lot more things than you did. You realize that you can not take anything for granted. During a recession, businesses are under a lot of financial pressure and they will try to cut down on any expenses they can. Cutting expenses may even mean to cut people’s jobs. Another benefit to a recession is that it causes you to get and think more creatively. It makes you want to conserve what you have and not waste anything. If you are a business owner, you could make your products more accessible, reduce your operating costs, use innovation to match supply and demand, if you fail at something, try to fail cheaply and solve your customer's pain. By solving your customer’s pain, it will want to attract more and more people so you do not go out of