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1. • More likely to become long-term unemployed

     • People who lose jobs during recessions, especially deep recessions, are more likely to become long-term unemployed and find it more difficult to reenter the labor market later.
     www.investopedia.com/ask/answers/032515/why-does-unemployment-tend-rise-during-recession.asp

     What Happens to Unemployment During a Recession? - Investopedia

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   What happens if you lose your job in a recession?

   • Job loss or reduction in hours. In a recession, companies often reduce their staffing levels to save money. You may risk losing your job or experiencing a reduction in hours. Difficulty finding employment. For a while now, workers have controlled the employment market.

   What Happens During A Recession? - Forbes

   www.forbes.com/advisor/investing/what-happens-during-a-recession/

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   What happens if you stay employed during a recession?

   • If you stay employed through the downturn, you can devote that extra cash to another of your financial goals, like a new roof or a family vacation. No job is recession-proof. Despite your best efforts, you might fall victim to job cuts and find yourself in an unfavorable situation.

   Will You Lose Your Job in a Recession? How to Protect Yourself - Better…

   www.betterup.com/blog/will-i-lose-my-job-in-a-recession

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   Which workers are at risk of losing their jobs during a recession?

   • The following workers are at risk of losing their jobs during a recession: Hospitality and tourism. With less money to spend, you’ll receive fewer vacationers in your area. If you work in a hotel and people aren’t booking rooms, you may experience layoffs or reduced hours. Restaurants and bars.

   Will You Lose Your Job in a Recession? How to Protect Yourself - Better…

   www.betterup.com/blog/will-i-lose-my-job-in-a-recession

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   What happens during a recession?

   • During a recession, people may experience significant impacts on their daily lives. Everything from groceries to shoes is often more expensive, and workers may have less job security. Economists have varying opinions about how to define a recession.

   What Happens During A Recession? - Forbes

   www.forbes.com/advisor/investing/what-happens-during-a-recession/

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   Is your job vulnerable to a recession?

   • Your vulnerability to a recession hinges on the nature of your work. When the economy goes south, most people scale back their spending. If your job depends on the sale of non-essential goods and services or high-cost products that require financing, you may be more at risk than others.

   Will You Lose Your Job in a Recession? How to Protect Yourself - Better…

   www.betterup.com/blog/will-i-lose-my-job-in-a-recession

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   Does unemployment aggravate a recession?

   • The same thing happened in 2022, when the economy shrank during the first and second quarters, but unemployment actually declined, even as the economy shrank. Recession and unemployment go hand in hand —a spike in unemployment and its persistence are hallmarks of a recession, and joblessness in turn aggravates recessions.

   What Happens to Unemployment During a Recession? - Investopedia

   www.investopedia.com/ask/answers/032515/why-does-unemployment-tend-rise-during-recession.asp

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3. www.betterup.com › blog › will-i-lose-my-job-in-aWill You Lose Your Job in a Recession? How to Protect Yourself

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   Will you lose your job in a recession? No one is completely immune, but you can prepare for a worst-case scenario and learn how to adapt with these tips.

4. hbr.org › 2022 › 11What to Do When You’re Laid Off During a Recession

   hbr.org › 2022 › 11

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   Nov 30, 2022 · What to Do When You’re Laid Off During a Recession. by Marisa Bryan. November 30, 2022. HBR Staff/PM Images/Getty Images. Summary. Losing a job is hard. If you’ve recently been laid off, know...

5. www.forbes.com › what-happens-during-a-recessionWhat Happens During A Recession? - Forbes

   www.forbes.com › what-happens-during-a-recession

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   Aug 23, 2023 · Job loss or reduction in hours. In a recession, companies often reduce their staffing levels to save money. You may risk losing your job or experiencing a reduction in hours.

6. www.sunlife.ca › en › tools-and-resourcesWhat to do if you’re unemployed during a recession - Sun Life

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   • Update your resume. This process can be good for your soul. You’ll see what you’ve done in your professional life and the areas you excel at. Emphasize the skills you can transfer to a new job.
   • Look for job openings in an industry that’s hiring. Perhaps it’s time to switch gears. Canada’s unemployment rate is low, and job opportunities remain solid.
   • Network with your contacts. Call a friend or former colleague. Check in with family members. Put that updated resume and a note on LinkedIn and other social media platforms.
   • Expand your skills. If you’ve dreamed about working in a different field, now’s a great time to make it happen. You could go back to school. Online learning has come a long way, with a wide variety of courses available.

7. Videos

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     What is a recession? | CNBC Explains

     Sep 20, 2019

     899.8K Views

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     investopedia.com

     The Impact of Recessions on Businesses

     Dec 31, 2008

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     2:22

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     What is a Recession | Factors leading to a Recession | How it happens | Economics

     Jun 3, 2023

     23.8K Views

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8. www.indeed.com › recession-mean-for-meWhat Does a Recession Mean for Me? (And Tips for Recovering)

   www.indeed.com › recession-mean-for-me

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   Aug 15, 2024 · Lack of benefits: If you lose your job during a recession, you may lose significant employee benefits like health insurance and retirement savings. You might be able to receive government support as you search for a new job.

9. www.investopedia.com › ask › answersWhat Happens to Unemployment During a Recession? - Investopedia

   www.investopedia.com › ask › answers

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   Sep 11, 2023 · What Happens to Unemployment During a Recession? By. Neal McGrath. Updated September 11, 2023. Reviewed by. Somer Anderson. Fact checked by. Jared Ecker. Part of the Series. Guide to Economic...

10. www.forbes.com › sites › chriswestfallWill I Lose My Job In A Recession? 3 Ways To Future Proof ...

    www.forbes.com › sites › chriswestfall

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    Jul 19, 2022 · Reports from Forbes cite a TD Ameritrade study, identifying more than a 50% chance of a recession. What does that mean for your job security?