Understanding Recession | The Impact of Recession on Foreign Workers and International Students

From job market uncertainty to financial strain, it's crucial to be aware of the challenges and find ways to navigate them successfully. Swipe through to learn more and gain insights on how to tackle these tough times. Remember, we're with you all the way!

What is a Recession?

A Recession is a prolonged decline in economic activity, marked by two consecutive quarters of negative GDP Growth. It leads to lower employment, decreased consumer spending, and reduced industrial production, resulting in slower growth, higher unemployment, and often a drop in stock market performance.

What is a SILENT Recession?

A Silent Recession is when economic conditions worsen without being officially recognized as a recession. Certain sectors or groups face hardships like job losses and reduce income, even though key indicators like GDP don't show a significant decline. This economic strain isn't widely acknowledged by official statistics or media coverage.

1. Job Uncertainty

   
   

   Companies often slow down hiring during a recession, leading to fewer opportunities for foreign workers and increased competition for jobs. Employers may also become more reluctant to sponsor visas, impacting job prospects

   
   

2. Visa & Immigration Challenges

   
   

   Stricter immigration policies may arise during economic downturns, making it harder to obtain or renew visas. Companies might be less willing to sponsor work visas, adding the the uncertainty for foreign workers and students.

   
   

3. Reduced Employment Opportunities

   
   

   Internship programs may be cut, and entry-level positions become scarce as companies tighten budgets. International students will face increased competition, making it tougher to gain practical experience and secure employment after graduation.

   
   

4. Financial Strain

   
   

   Loss of income or reduced hours can strain the finances of foreign workers and international students. Those relying on part-time jobs may struggle to fund their education, and fluctuating exchange rates can further impact their budgets.

   
   

5. Navigating Uncertainty

To navigate these challenges, foreign workers should focus on building in-demand skills and networking. International students can seek support from campus career services and explore opportunities in less affected sectors.