How do recessions hurt everyday people?

Question

I know soon we will probably hit a recession. Im a 16 year old and work at a local grocery store. My dads well off being vice president of his company. What exactlly does a recesson do to everyone? how many people loose there job? Is it really that bad?

I know that recessions and depressions are good for an economy.

Answer 1

Recessions and depressions are NOT good for an economy, they waste labor resources because some people who want to work can't get jobs. For ordinary people this is the biggest problem because without a job you have no income to pay your living expenses. Usually not many people actually lose their jobs but every year a million or more people are graduating from school and trying to get their first job, and find out that only experienced workers are being hired.