Various parties are saying that recession may come amid various factors prevailing at the international level. After the Russia-Ukraine problem, inflation is reaching an unprecedented peak. In order to reduce inflation, the central banks of various countries are continuously increasing the interest rate. Especially the world's leading economic countries, including the united states, have increased the interest rate several times in a row. While the economy was already growing slowly due to Corona, it has now reached the worst level between russia and Ukraine. As a result, inflation in many countries has reached multi-year highs.
While the price is already rising, the interest rate has been further increased due to the increase in interest. Due to this the cost of people has decreased. Meanwhile, interest rates have increased several times, and so far, the inflation rate in the united states does not seem to have decreased. While it has increased 4 times in the current year, it is expected that there may be an increase in interest rates in the next year as well. It is expected to increase to over 5% by 2023. This is the last interest rate increase after the worst decline in 2007.
As the interest rate continues to rise, the purchasing power of the people has decreased. This can lead to further stagnation. This can affect growth. This can lead to a recession. There is a fear that many lakhs of people will lose their jobs due to this. Many tech giants have already started laying off jobs. There are also fears that this trend may continue. However, experts say a recession does not necessarily mean massive layoffs. Meanwhile, 3.3 million people could be out of work by 2024, according to Bloomberg data. This is expected to be mostly due to the recession.
It was 5.1 million in 2001. So this ratio is expected to decrease compared to that. This is less compared to past global declines. At this time layoffs are higher than in banking services, business services, banking technology, real estate, etc., and the number of white-collar workers. Yet layoffs can have a greater impact. Be it india or any other part. He said that there are ups and downs in economic development. So dismissal is just being. However, due to the ongoing decline in the tech sector, many indians are losing their jobs. However, layoffs are few and far between, experts say.
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