Losing A Job In A Recession Costs $112K

Losing a job is never easy, but a new study shows how much worse it can be in a tough economy.

Workers who become unemployed during a recession see their earnings drop by roughly $112,000 over the following 25 years compared with what it would have been, a total wage loss of roughly 19%, according to a report out this month from the Brookings Institution. By comparison, those who lose their jobs when the economy is growing suffer just more than half that wage loss, or about $65,000 over 25 years.

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