Final answer:
The statement that the recent recession had little impact on the service industry is false. The recession caused significant disruption, including steep drops in revenue and a shift to lower-wage jobs in the service industry post-recession.
Step-by-step explanation:
When evaluating the statement 'Luckily the recent recession had little impact on the service industry,' it's clear based on economic data and real-world impacts observed during recessions, such as the Great Recession, that this statement is false. The recession affected many sectors, including the service industry, and resulted in significant job losses. Restaurants and small retailers experienced steep drops in revenue, particularly highlighted during the pandemic-driven economic downturn, and while many survived, they did so often with reduced staff, income, and altered business models.
Furthermore, data from the National Employment Law Project indicates that job losses during the Great Recession were concentrated in medium-wage occupations, with many of those jobs being replaced by lower-wage positions during the recovery period. This shift was predominantly in the service, retail, and food industries, which underscores the impact recessions typically have on the service sector.
In summary, the notion that the service industry was left unscathed by recent recessions is not supported by the prevailing evidence and the observed economic changes and challenges within the industry during such periods.