Hardworking productive employees, don’t worry about recession!

There’s a lot of talk of another economic recession. It’s been 14 years since the Great Recession of 2008. How many of you remember it?

Click here to watch my video on why I say hardworking productive people have nothing to worry about during this next economic recession.

A recession has a technical definition by economists that says, “two consecutive quarters of economic decline as measured by GDP (gross domestic product)”.

In first quarter ending 03/31/22, GDP was down 1.4%. If the second quarter ending 06/30/22 decreases, the United States will technically be in a recession.

A Depression is generally well understood to be an extreme fall in economic activity that lasts years. Hopefully that doesn’t happen as this will hurt…all of us!

The last time the United States experienced an economic depression was 93 years ago in 1929. Some people today speculate that our country could once again fall into an economic “depression”, but how deep the next “recession” is, well, that’s unknown as to its severity.

As I have quoted many times, our 33rd US president Harry S. Truman said it best, “It’s a depression when your neighbor loses his job; it’s a depression when you lose yours”.

So regardless of the technical definition of recession, it really comes down to whether you will have a job.

Dear LinkedIn colleagues, you WILL have a job during the next economic downturn. And you WILL keep your job…and your house and your car during the next economic downturn.

All you have to do is keep doing what you’ve done all your life: Be hardworking and productive, and add measurable value to your Departments. Your company or organization will NEVER want to let you go!

The next economic recession (or depression), who cares?

You colleagues will always have a job. You will not only survive the next economic recession, you will thrive!

John Herrera, CPA

MuniTemps Staffing