Data Shows Young Graduates Will Be The First One To Get Hit By Recession
Now everyone is worried about the only thing, and that’s a recession. The US is quite famous for making your dreams come true, that’s why there are so many people who like to stay in the here and settle. But, from last few months, the economy of the world’s largest country is tumbling and now on the verge of recession. Many economists reports are coming, which shows that the US will soon be getting hit by another great recession. However, the big question arises, who is going to get hit first because of it?. Newly graduates from college are going to be the first ones who are going to get affected because of the great recession.
Historical data shows that it’s those who are newly graduated who gets most affected whenever an economic crisis comes. During a great recession between 2007-2009, those students who recently got out of college didn’t survive in the job market. Employers mostly don’t like to hire those people who are new to their field and try to employ people who have more skill than any others.
When the financial crisis hit the US economy in 2007, people in different sectors went jobless, and the majority of them were newly graduated employees. Recession is the time where employers who are running a business will try to save money and will carefully spend on those people who more valuable at such time. Experts are already predicting the US economy is going down and will get hit by recession in a few months. Historical data shows that during hard times the unemployment rate could touch to 10% and it did happen during the 2007 recession. The US government is trying to save the economy by putting more effort and changes into monetary policies, but it seems like the recession is inevitable.