Define recession in your terms?

All the sectors, almost covering all, being attacked by this global recession.People either in work for years , freshly joined or yet to join their dream company get affected by this every day. Every one of us just to keep our self by planning in their own style. While most of them take the option of higher graduation, even it is also not so bright as there will more technically efficient people in the queue while we return after finishing some post graduation or something else. One thing is for sure it is not possible to beat development of technology similarly it wont be never easy to take sudden slashes and steeps.