Unemployment: Unemployment refers to the number of people who are actively seeking work but are unable to find employment. During a recession, unemployment tends to rise as companies cut back on hiring or lay off workers.
Consumer Spending: Consumer spending refers to the total amount of money spent by individuals on goods and services. During a recession, consumers tend to reduce their spending due to uncertainty about the future, leading to decreased demand for goods and services.
Gross Domestic Product (GDP): GDP is the monetary value of all finished goods and services produced within a country's borders over a specific period. During a recession, GDP typically declines as businesses produce fewer goods and services due to decreased demand.