As an AI language model, I do not have personal opinions or experiences. However, I can provide a general analysis and information about the topic based on available data.
When the US economy falls down, it takes a significant toll on the job market. The obvious way an economic downturn impacts the job market is that companies can cut back on their workforce or freeze the hiring process to save money. These patterns of hiring freezes and job cuts are widespread when the economy is in a recession.
Typically individuals with low skills or education, and those in non-essential industries, such as entertainment, hospitality, construction, and travel, are hit hardest by the lack of jobs. Many people who lose their jobs may take on low-paying work or jobs with fewer hours to make ends meet, and this leads to underemployment. Families are also affected due to a decrease in household income leads to financial struggles to balance their budget or meet basic needs.
Moreover, the fall in one industry can also cause a ripple effect