Who loses their jobs in a recession?
Who exactly loses their jobs in a recession/depression? I am pretty convinced we are heading into a recession now, and I am just wondering who should be getting ready to collect unemployment.
Asked By: Anonymous - 2/21/2008
Best Answer - Chosen by Asker
Well, think of it this way... a recession basically happens when people curb their spending. This could happen because people have gotten into too much debt, or their mortgages go under, or what have you. Then it's a matter of where they stop spending money. If the housing market takes a hit, then real estate... More
Answered By: Firstd1mension - 2/21/2008
Additional Answers (15)
Answered By: cwstuffff - 2/21/2008
Answered By: shawn c - 2/21/2008
alot of people.
Answered By: sb0983 - 2/21/2008
Mostly Illegal Immigrants and Black folk
Answered By: Lucifer S - 2/21/2008
I'm just guessing here but I think if you work for a large company and there's a recession and the progress of the company is affected by it, the ppl on the bottom of the ladder will be losing their jobs first.
Answered By: Browned Eyed Girl ;) - 2/21/2008
Well it should be the clip boards..you know what I mean the highly paid non productive people who walk around all day with clip boards..but when it comes to the crunch we know it will be the guy on the shop floor...as always too many chiefs and not enough Indians...
Answered By: litttle_b0_beep - 2/21/2008
I think people in non-essential positions and industries will close down first. Like if you work for a movie theater vs. a food processor. The movie theater will close first.
Answered By: Julie L - 2/21/2008
the majority of us, that's who..... and that's why it's called a depression/recession because of all the loss of jobs
Answered By: fonzatoz 69 - 2/21/2008
Those in the service industry, waiters, waitresses, bell boys. It could spread to the several different industries. Depends on what areas are recessed. If you buy into that we are headed into a recession then we probably will. Our money is only as worth as much as the American people have in it. It is not backed up by... More
Answered By: Monte T - 2/21/2008
No one is exempt but I would think, last hired..first fired.
Answered By: rick - 2/21/2008
I actually see that we are already in recession headed towards depression. Initially the small guys loose their jobs, like fast food, retail, local businesses. I mean it will take a while for Walmart to go out even in depression, but it would only take a few months for employees to start getting laid off and local... More
Answered By: midnightmoon62 - 2/21/2008
If you are convinced that we are heading into a recession you should already know what sectors of the economy will be hit and therefore have an idea as to who may need to get ready to collect unemployment. If all you are really doing is parroting what you hear or read without understanding exactly why their conclusion... More
Answered By: Lobo1 - 2/21/2008
A LOT OF PEOPLE! i live in detroit and i know car companies are doing a lot of layoff to try and recover their losses because no one's buying cars right now!
Answered By: jmclaughlin07 - 2/21/2008
A recession affects just about all levels of the economy and employment... More
Answered By: earanger - 2/21/2008
The government/local government will be the first to initiate the job cuts to lessen the deficit... More
Answered By: Economist (trying) - 2/21/2008
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