How has the recession affected you and your family

And there have been many anecdotal and journalist accounts of increases in family violence, emerging as early as While many who lose their jobs use the time for growth and exploration, many suffer with depression, alcoholism, and denial.

This can have devastating effects on retirement accounts and savings accounts. Women, on the other hand, are more likely to become anxious, more demanding and less supportive, leading to increased likelihood that their husbands or partners will withdraw. Parenting also comes under pressure in recessions.

how recession affects individuals

Families can survive by adapting to a new lifestyle, working together, and making changes to improve their future. Tips and Strategies: Families can work together to cope with the changes brought on by an economic downswing. What strategies have worked well for you in trying to dig your way out?

what does a recession mean for me

However, some births delayed inevitably become births foregone. The US studies covered three events —the Great Depression of s, the s agricultural recession and the global recession.

Some families must change their plans, sell their homes, switch schools, and cancel vacations. During a recession, however, real estate values fall drastically and foreclosures increase, forcing many families out of their homes.

The poor are getting poorer, and the rich, despite stock-market setbacks, are still comparatively rich.

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Most families with young families affected by the recession, new research shows