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Consider This from NPR

A Personal Recession Toolkit

Consider This from NPR

NPR

Society & Culture, Daily News, News, News Commentary

4.26.2K Ratings

🗓️ 31 January 2023

⏱️ 15 minutes

🧾️ Download transcript

Summary

Signs of a forthcoming recession seem to be everywhere: from grocery stores, where food prices are soaring, to Fortune 500 companies, where workers are being let go by the thousand.

Survey after survey shows fears of recession are high. And if one does come, navigating the downturn can be tricky.

NPR's Arezou Rezvani shares advice from economists and personal finance experts on how to prepare for a potential recession.

In participating regions, you'll also hear a local news segment to help you make sense of what's going on in your community.

Email us at considerthis@npr.org.

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Transcript

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0:00.0

Brinton Taylor has been laid off before a couple of years ago and it didn't feel good.

0:05.8

I think it always, you know, confuses you.

0:08.0

You wonder what you could have done more and I don't know anyone that hasn't kind of

0:13.3

taken that a bit personal.

0:15.4

He and his wife have two young kids.

0:17.6

He is the only source of income for the family.

0:20.5

Every day while I was laid off felt like a race.

0:24.6

Like there was a clock running and I had to optimize every second of it.

0:29.8

I just like couldn't let myself rest and so I would say the other emotion that's very

0:35.2

strong is just exhaustion, right?

0:38.0

It took a year for Taylor to find a new job.

0:40.9

Now he does product marketing for a cybersecurity company and he has been watching recent headlines

0:46.8

with some trepidation.

0:48.1

News overnight about more layoffs at Amazon.

0:50.8

Microsoft is the latest major tech giant Google has announced it is cutting 12,000 jobs

0:57.9

across the company.

0:59.4

He feels pretty optimistic that he will be okay.

1:02.7

Even struggling companies can't just stop protecting their networks from hackers.

1:07.4

Cybersecurity space is a very strong space where it's not an option in our industry to not

1:17.0

spend.

1:18.3

But Taylor knows economists are predicting a recession and he remembers what that layoff

1:23.4

felt like.

...

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