An editor in a magazine wrote about the difference between a recession and a depression. I liked the answer. A recession is when the countries economy growth decreases for two or more consecutive quarters. A depression is when you file you income tax with the job title as Hobo.
It is unfortunate that this would happen. The solution is actually easier said than done. Just because the country is in a recession does not mean there is a lack of jobs everywhere. There will always be jobs available, but the jobs will be in a different field and/or area. For example, in Canada, there are lots of jobs available. The heath field is constantly hiring and is facing a shortage. Specialized trades such as refrigeration, heating, diesel, car, plumbing, etc are in huge demand, but you may have to relocate to a different area. People hate the idea of relocating or retraining. I find that if you want to survive, you may have to. If you cannot find a job in your area, you have one of two choices. You can retrain or relocate.
There are other alternatives, but I do not want to think about those.
The article can be found here.