This is a portrait of a community under pressure from all sides. So many things in Rio are more important. Four of his stores have closed. The year-old was forced to shutter her food stall business in early amid the worsening recession and rising violence, and now her family relies on a Catholic charity for gifts of rice, beans, coffee and pasta. More pain is expected with the economy forecast to contract another 2 percent in , after an estimated 3 percent recession in , spelling the longest recession since the s.
Complexo residents are cutting back on non-essential purchases — and waiting longer between trims, said Aguiar. But when the violence was between the police and gangs the media got interested. But with the rise of gang-police shootings in , the iconic cable car became associated with violence in the favela and visitors dropped off.
But he said the recent flare-up in police-gang violence now prevents him from entering certain areas. In the media, this place is the terror of Rio de Janeiro. Now, we have police and drug dealers shooting all the time. Hence, reducing the workforce is a primary strategy utilized causing the massive loss of jobs particularly among the low-skilled workers.
Second, the occurrence of recession affects businesses negatively. It does so by initially dropping their yields and productivity accordingly, pushing weaker corporates out of business. Similarly, during recessions, stronger companies take advantage of the economic turmoil and struggling businesses to take over them or institute mergers causing the loss of jobs. As a result, the competitive environment in business becomes ruined causing artificial and real scarcity of products that drive prices high.
Third, society suffers immensely. Due to a recession, scores of people become jobless, which makes it difficult for them to provide vital necessities for their families. Consequently, these individuals turn to the government for support through various social services. However, since the government is also grappling with reduced revenue, it becomes less likely to meet these needs such as medical services, food, and education. Moreover, plans for the future such as attending college, buying homes, and starting businesses become impossible to meet.
Thus, these deficiencies result in a helpless and miserable society. Thus, a government should strive to develop measures to curb its occurrence, depending on its root, thereby, cautioning the economy and the people.
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