If the economy were in the contracting phase of the business cycle, how might that affect your ability to find work?

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Business

Tanya Lester

21 July, 08:46

If the economy were in the contracting phase of the business cycle, how might that affect your ability to find work?

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Yael Mercado · Answer 1

If the economy were in the contracting phase of the business cycle, how might that affect your ability to find work? It would likely be more difficult to find work due to the business not hiring new employees. The contraction phase of the business cycle shows a decline in the economy. When there is a decline in the economy, it is less likely for a business to hire new employees and the unemployment rate then rises.