I’m a 2024 postgraduate. People keep saying that my chances of getting hired is severely affected by recession. Is recession happening? If yes, how is it affecting me as an individual looking for jobs?
In: Economics
Slowed down job recruitments is a symptom of an economic cycle that tells is if we’re in a recession. A recession is below-normal economic activity. People aren’t buying things for various reasons (like natural disasters, pandemics, bursting of economic bubbles), companies don’t produce as much because the demand isn’t there, so they don’t need to hire more people.
The National Bureau of Economic Research [defines recession](https://nber.org/news/business-cycle-dating-committee-announcement-january-7-2008) as “a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.”
In any recession, there are job markets that grow, but the overall situation is stagnation or down. It really depends on what field you’re looking in.
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