Question

What happened to people's spending habits when they lost their jobs?

They stayed the same.

They spent more money.

They spent less money.

Answer 1

When people lose their jobs, their spending habits typically change, and most often, they tend to spend less money. This is due to the loss of income, which leads individuals and families to prioritize essential expenses and cut back on discretionary spending. They may reduce spending on non-essentials, entertainment, dining out, and other luxury items in order to manage their finances during a period of unemployment.