People might be aware that some of the esteemed and largest organisations are laying off their employees left right and centre, are we heading into recession? Because I have seen my colleagues getting laid off and it's been months they are unable to find a job. Either we are heading towards recession or globally companies overhired the employees post COVID hence clearing the additional manpower. I am bit convinced that it's like recession sort of thing and not sure to over hiring. Share your thoughts on this crisis which has left a good amount of people without any work.
While we live in an ever more globalized world, it's worth understanding that recessions can still be localized to certain countries and regions, so it's too blanket a statement to make "Recession soon?" unless you specify where. Besides that, if we go by the definition of two successive quarters of negative growth, then some countries can fall into 0.1% decrease in annual GDP and they would technically be in a recession, but it would not be all that damaging necessarily. It's when we enter a global crisis, such as the pandemic or the financial crisis that things really get bad, but few people can predict such events. You just have to diversify your assets in the hope that you can weather any storm out there.