Recession's short term effects are immediate and intimidating for everybody involved in one. Many people, however, overlook the long term effects that must be taken into consideration. An economic recession can easily leave a scarring situation for people because of the benefits it takes away.
Education - With high unemployment and income loss families are effecting families because they are unable to afford college education for their families, but not just college. Families are failing to provide an adequate learning environment.
Opportunities - With high unemployment opportunities for people to get jobs become scarce. It makes it harder for people to achieve their economic goals.
Private Investments - Without as many private investors the investments in non-residential equities goes down which has a huge impact on the economy. This will lead to reduced production and lower our GDP. New innovations will be slowed because companies won't be able to research inventions without help from private investors.
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