Recession to Kids?

Sindhura came home and mentionned that one of her classmates is moving back to Sri Lanka. This girl just joined the school in August so she has hardly been here for 3 months. Her father is a pilot. Given the economy, the airline industry has been the hardest hit here. I had casually mentionned that the economy was weak so probably they had to close down a few positions at his airline. I was thinking out loud more than anything and didn't expect the kids to pick up on what I was saying. But Sindhura wanted to know what a "bad economy was" and a "recession". I told her how the banks had run out of money and a few companies were running out of money and they had to lay off a few employees. She pried further as I think she was worried about us losing our jobs. Rushil took it to the extreme and said what if everyone in the world lost their job, what we do then?!? I'm sure this relays back to his fear of being poor and seeing what that means on a daily basis. Anyway, I really grappled with how I was to explain this the downturn to them and think I did a lousy job of it. I'm sure it will come up again, hopefully I'll be better prepared.