Economics Homework Help

I’m studying for my Economics class and need an explanation.

We learned in chapter 13 that In 2008 and 2009, the U.S. Economy and many other majors Econo- banks started selling off assets. Around the world, many countries experienced a financial crisis, which in turn led to a deep downturn in economic activity. Also, we have outlined the six key elements of financial crises. 

Focusing on the impact on the major economic part, tell me what is the effect of financial crises on employment