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How will a recession affect me

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How will a recession affect me
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recession  will affect you that;

Layoffs and reductions in employment occur when businesses are unable to turn earnings during a recession. During a recession, unemployment rates frequently increase considerably.so you will be more vulnerable to lose your job.

Reduced consumer spending: As people become more frugal with their cash during a recession, consumers often cut back on their spending. So your project may come to an end.

 rising interest rates and costs for everyday commodities. Inflation and the possibility of a recession have probably also had a negative effect on your investment accounts.

We might observe an increase in bankruptcies during a recession. Potential consumers seeking for a mortgage or a personal loan will find it harder to get a loan from a bank. It might not be as easy to get it.
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