Name:
unemployed
The negative effects of a recession are very evident in the lives of many people. Unemployment is one of the worst effects of a recession because its financial impact is immediately felt by employees and their families. And, because the number of unemployed is much higher during a recession, it is also much tougher for a person who lost his job to find a new one. The unavailability of jobs becomes so severe that even those with college degrees experience difficulties in finding work. The negative effects are also felt by those who still have jobs because companies reduce their benefits in the attempt to minimize costs and survive.