EFFECTS OF CURRENT RECESSION

Effects of Current Recession

Effects of Current Recession

Introduction

The main purpose of this research report is to describe the different effects of current recession on the foreign wages, farming, world trade and other tariffs. Recessions have the tendency to touch sore spots of business (Staffan, 2008). Those which are no longer viable are shut off. For instance publications that are now low on subscription, advertising and sales get the first cut. Most companies spend large sums on advertising in print and electronic media. The PR companies have to work on tighter budgets with maximum mileage. Chances are that different agencies that were used for different products are now merged. A single agency is given the job to do. Staff in the office faces retention as now the work load is divided between only the most necessary employees (Russell, 2008). The ones left can also forget about the raise in salaries and also work hard.

Discussion

Even the strongest feel the cracks in the face of an earthquake. The cracks are visible even during a brief recession. When the markets are disrupted the effect shows. Unemployment is the greatest dread of any man. How will he feed his family now? Expatriates are being shown the doors (Mancur, 2008). America which has been home to many people is now turning them out. Branches of American companies abroad are shutting shop. When there are cuts in the weekly budgets, priorities changes, when job seekers are dumped there is a big change in lifestyle.

When there are recessions the female employees feel the winds of change first as they are more vulnerable. They know they will be laid off the jobs (Parekh, 2008). It is difficult to believe, but it is true. Women who work as receptionists, doing odd jobs in the office, public relations and communications are picked out when downsizing is done.

As USA faces a visible recession in current times, it is evident that economists are in overdrive to review the fiscal statistics and give expert opinions. The stock markets have already created a panic situation in the country (Dow, 1998). The biggest lenders are now facing a cash crunch and for the first time they are also admitting it.

Lower income students were far more likely to report that a family member had lost a job (32% versus 12% for middle income and 5% for high income students).

Lower income students also were more likely than middle or high income students to indicate that their family had fallen on hard times (38% compared to 26% for middle income and 11% for high income students).

Middle and high income students (41% and 32% respectively) were more likely to report family members were worried about the fall in the value of their investments compared to lower income students (16%). The relatively low concern about investments reported by students from lower income families is likely a result of the fact that the magnitude of these investments is much smaller.

African American students were more likely than Caucasian students to agree that ...