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Not all sectors of the economy or professions are affected negatively by a recession, but times of economic hardship certainly are followed by high unemployment and wide cuts in wages.
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Related questions
Colonial powers harmed their colonies by?
Keeping wages low and taxes to high
What phase of the business cycle do employees lose their jobs to new applicants who are willing to accept lower wages?
recession
Why did the Italian Immigrants come to the US?
low wages and high taxes :)
How did colonial powers harm their colonies?
Keeping wages low and taxes to high
What does low wages mean?
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Which describes the economy of facist Germany during the great depression?
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What caused the curren recession?
Flat wages, Bad banking practices, and federal bailouts
Was an effect of the Great Recession?
High unemployment was an effect of the Great Recession.
What was the effect of the 1981-1982 recession?
High unemployment was an effect of the Great Recession.
What are the conflicts between Customers and Employees?
Employees want high wages, whereas consumers want low prices.
Which of these is not a cost of recession?
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