During Recession What Happens?

During a recession many businesses lay-off employees at the same time, and available jobs are scarce. When businesses fail, under the normal operation of markets the assets of the business are sold off to other businesses and the former employees are rehired by other competing businesses.

How does a recession affect the average person?

That means there are fewer jobs, people are making less and spending less money and businesses stop growing and may even close. Usually, people at all income levels feel the impact.

What's the best thing to do in a recession?