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What are the implications of a recession for an average person?
Wiki User
∙ 15y ago
It varies so greatly it is hard to give an answer for an average person. In many recessions certain sectors suffer much more heavily than others. It may well be that the average person does not usually suffer much. eg if unemployment goes up from 5% to 10% which would be a pretty severe recession, the average person is still employed. This doesn't mean no effect as there might be reduced wage rises and other effects. Note that a very mild recession might feel very severe to someone who does lose their job.
Wiki User
∙ 15y ago
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