Recession and Layoffs in 2022
Azhar Kudaibergenova
2023-01-07
AGENDA
Introduction: Why is it important to know about
recession?
What is recession?
3 Indicators of recession
Layoffs in 2022
Conclusion: What to expect in 2023?
INTRODUCTION
Why is it important to know about recession nowadays?
Currently, the job market is very intense and competitive, especially
for those who are just starting their careers without any experience. As
we saw huge layoffs in 2022, graduate students in 2023 should understand
the reasons for such kind of events and prepare for next year
accordingly. That is why, understanding the term recession can be
helpful in this aspect.
What is recession?
A recession is a significant decline in economic activity spread
across the economy, lasting more than a few months, normally visible in
real gross domestic product, employment, industry production, and other
indicators. A recession begins when the economy reaches a peak of
activity and ends when the economy reaches its trough. Between trough
and peak, the economy is in an expansion.
Indicator 1. Real GDP
Real GDP or Read Gross Domestic Product is a measure of all the goods
and services produced in a nation adjusted for inflation or deflation,
expressed in dollars.
Indicator 1. Real GDP
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Indicator 2. Unemployment
The term unemployment refers to a situation where a person actively
searches for employment but is unable to find work. Unemployment is
considered to be a key measure of the health of the economy.
The most frequently used measure of unemployment is the unemployment
rate. It’s calculated by dividing the number of unemployed people by the
number of people in the labor force.
Indicator 2. Unemployment
Indicator 3. Industry Production
Industrial production refers to the output of industrial
establishments and covers sectors such as mining, manufacturing,
electricity, gas and steam and air-conditioning. This indicator is
measured in an index based on a reference period that expresses change
in the volume of production output.
Indicator 3. Industry Production
Layoffs in 2022
Layoffs in 2022
Layoffs in 2022
Layoffs in 2022
What to expect in 2023?
The layoffs are basically an instance of social contagion, in which
companies imitate what others are doing. If you look for reasons for why
companies do layoffs, the reason is that everybody else is doing it.
Layoffs are the result of imitative behavior and are not particularly
evidence-based.
Layoffs increase mortality by 15-20% over the following 20 years.Not
surprisingly, layoffs increase people’s stress. Stress, like many
attitudes and emotions, is contagious. Depression is contagious, and
layoffs increase stress and depression, which are bad for health.
Conclusion
That is why for people who will be looking for a job in 2023 after
graduation or after being laid off it is better to expect some more
domino effect and try to take care of their physical and mental health,
and patiently anticipate till the market stabilizes.
THANK YOU FOR ATTENTION!
