If you have trouble finding a job because the majority of businesses have falling revenues and profits, you are being impacted by the Economic factors of the business environment.
Unemployment is caused by a variety of reasons arising from both the demand side or employer and the supply side or employee. Demand-side declines can be caused by high-interest rates, global recessions, and financial crises. On the supply side, frictional unemployment and structural employment play a major role.
A contraction phase is a phase of the business environment cycle in which the economy moves from a peak to a trough. This phase occurs when the economy collapses and GDP drops. A contractionary policy is used by governments and central banks to combat rapid inflation in the economy.
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