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Recession affects economic activities and factors such as the gross domestic product of the country, household income, business profits, and inflation fall. While bankruptcies and the unemployment rates rise, people dependent on wages and salaries have their living standards deteriorate, than those who rely on incomes or welfare benefits. Job loss is known to have a negative impact on the stability of families, and an individuals' health and well-being.

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Wilton Blanda

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3y ago

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