We have started to have appraisal and salary hike conversations with the employees in our company. The market outside is not very great for someone quitting the job now and joining a new company. Unless they have the right skills, it is not very easy to get jobs this year. At least that's what I found with my friends. They say this has been the case with many companies and many people find it hard to get a new job because the opportunities are getting less because many companies are cutting costs with reducing headcounts.
More than this year, people say that next year will be a recession. Nobody would be announcing that this year is a recession year. But once it happens we will know and economy experts might talk a lot about it once the opportunities come down.
Printing a lot of money
We all know how inflation works because printing money is one of the primary reasons for inflation. The value of money keeps reducing because of too much availability. It is said that high inflation and US elections can be two primary reasons to decide whether we will be having a recession soon or not. I know for a fact that when a recession happens, it not only affects the US but it will also affect other countries that are dependent on the US for the economy.
It is not possible to reduce the printing of money because there are a few things that has to be done for which the government needs money and they have to print it. The more money gets printed, there will be more money in circulation reducing the value of money.
Can recession be very bad?
I don't know if it will be a bad one this time. Last time we had a recession, I heard stories about how it affected people in the US. There were a few people who lived inside their cars. India also had a lot of effect. Many people lost their jobs and many people couldn't find any job. Recession is usually compared with the Corona period by some people. I think these two are different things. I think some things that we can expect from recession can be as follows:
- Many companies might have to layoffs to cut costs
- Basic amenities can get costly
- Finding new jobs can be hard
- Opportunities will be low
- Share prices might come down
Nothing is set in stone anyway. We can only predict and think about what will happen. But happening we will know only when it happens.
Be prepared
We can be prepared to face a recession if it happens. We shouldn't be experimenting by quitting our jobs and trying new adventures unless we have a good backup. Staking up resources unnecessarily can be avoided but many people are advising to have a self-sustained life where we don't have so much dependency on the market or outside world for our living. This can be a good way to ensure the recession is not affecting us. But we can only prepare to some extent. If we have to suffer the effect, we have to.
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