International Journal of Social Science Research (IJSSR)

The Psychological and Socioeconomic Impact of Recession on General Public

This paper examines how economic recessions affect the general public, focusing on daily wage earners, salaried employees, small business owners, job seekers, and retirees. By analyzing inflationary pressures, unemployment fears, and shifts in financial behavior, this study highlights the recession's psychological toll and its impact on consumption, investment, and mental well-being. A survey of 50 participants in Bangalore provides firsthand insights, supported by secondary data. The findings emphasize the need for resilience-building strategies and proactive financial habits to mitigate the adverse effects of economic downturns.