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The Recession Has Affected New York City Workers - Research Paper Example

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The Recession has Affected New York City Workers The Recession has Affected New York City Workers Recession is referred to a decline in the economic activity and in such a situation it can affect a large number of businesses and economic activities including investment, employment, vacancies, utilization of resources, fluctuations in inflation and other unfavourable ups and downs in the economy…
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The Recession Has Affected New York City Workers
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Download file to see previous pages During the recession the most severely hit segment of population in the city has been the workers who reside in the city for spending a normal life with average incomes. This report presents the findings and responses from the interviews of three different people living in New York (Tavernise, 2012; Tobon, 2012; Robert, 2011). The interviews of the workers residing in the city of New York have revealed that there are many problems being faced by the people during the recessionary phase. The interviews of the persons included in this report are: 1. Susan Christopher: a lady who remained unemployed during the recessionary phase; 2. Aakash Mishra: who completed his graduation during the recessionary phase; and 3. Alejandro Tobon: who was terminated from his job. The author of this report asked them to share their experiences during the recessionary phase in the city and asked different questions in this regard. Susan Christopher, female, a 26 years old woman. She is an American citizen and a rationalist as well. She graduated with high grades and was trying to support her family and started searching for the job. Since she was financially unstable as she was the only one to work in the house and there was no one else in the family who could have supported her. Her mother was old and very ill. She lived in a small rented house. Unfortunately by the sudden mishap of recession, the rate of unemployment raised to significantly high. According to her whenever she got a chance to appear for a job interview, there were about 200 or more applicants present and in such cases she pre-empted that the chances of her getting the job were very low. She considered herself as a lower income class. She prefers working with workers union because it provides a source of unity. She is so much frustrated with the current situation that she had developed a negative attitude for the government and even supports the protests of Wall Street so as to make the government realise its responsibilities. Even after having a proper graduate degree with a good grade she had applied in restaurants, call centres, and grocery shops etc. but could not find any job and is still unemployed due to the increased rate of unemployment. Similarly Aakash Mishra, male, 20 years, an undergraduate from one of the universities in New York City and topper of his class went through the same crisis when during his graduation recession took place. He represents an ethnic group and living with his parents in their own house who were supporting him financially. He belongs to a middle class family and the income of his father is between 10 to 15 thousand dollars per year but he could not contribute as his parents always asked him to concentrate on his studies. He is an optimist as far as governmental policies are concerned and is against the protests and dislikes them. According to him he was disturbed physically and mentally by the fear and pressure of upcoming unemployment events which had been narrated to him by a number of freshly graduates like him who have been graduated with good or even excellent grades but they were unable to find a good job. Those who found a job did not get accommodated with what they felt to be fit for. This mental disturbance developed such an adverse ...Download file to see next pagesRead More
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