RECESSION

[noun] - a period when the economy of a country is not successful, business conditions are bad, industrial production and trade are at a low level and there is a lot of unemploymentMany businesses are failing because of the continuing recession. [C]He claims that the recession is much deeper than the government is prepared to admit. [C]In times of recession, more graduates seek careers in the public sector because they perceive it as offering greater job security. [U]The latest report confirms that the economy is in recession. [U]