Stagnation
Inactivity
noun, verbal noun
Sink and stagnate. Imagine something is doing just that. It is in the state of stagnation and inactivity.
This is a jukugo word that uses the on'yomi readings of the kanji. You should be able to read this on your own.
景気の沈滞により、たくさんの労働者が首を切られました。
A lot of laborers were laid off due to business stagnation.