Recession Fatigue at the Office

Key Takeaways

66% of respondents think a recession would likely cause layoffs at their company. Of them, 81% think they’d be laid off.
37% of respondents don’t believe they could handle being laid off, whether financially, emotionally, or both.

The global pandemic has shaken many people’s financial security. Now that we may be on the verge of a recession, Americans are tired of planning for the worst. In this study, we surveyed working Americans to discover how many are experiencing the financial apathy of recession fatigue, how it’s affecting the workplace, and how you can manage it.

While many are rightfully worried about the future of their finances, many others have put their trust in themselves and their employers. A potential recession may have slowed raises and hiring, but most employees felt secure in their jobs and were confident they could handle being laid off. If you’re worried, take the advice of those surveyed:

Set up an emergency fund
Add extra to your savings account while you can
Invest in insurance

With these steps, you can join the 75% of those who felt financially ready to face a recession.

Methodology

We surveyed 1,088 people about their behaviors and feelings toward a possible recession. Among those respondents, 37% were women, and 63% were men. The generational breakdown was as follows: 8% baby boomers, 25% Gen Xers, 49% millennials, and 18% Gen Zers. For data from the managers’ perspective, we surveyed 347 of the 1,088 respondents who reported being a first-level manager or higher.

About Clarify Capital

Clarify Capital helps business owners achieve the American dream by providing loans with fast approvals and low-interest rates. Businesses can apply for lines of credit, SBA loans, working capital loans, equipment financing, and more with approval in as little as 24 hours.

Fair Use Statement

If you found our study about recession fatigue and how to prepare for a possible recession informative, please feel free to share it with others for noncommercial purposes. Just be sure to link back to this page as a credit to Clarify Capital’s team.