A beard grown after being laid off, due to the lack of need to maintain a certain caliber of appearance. Most commonly found during recession, or other forms of economic depression, when jobs are lost en masse. The loss of job makes the unemployed male down in the dumps, and the laziness makes him less likely to shave.
Tom: I lost my job at the auto plant a few weeks ago.
Bill: So, that would explain that scrappy thing on your jaw.
Tom: Yeah, it's my Recession Beard. Is it really that scrappy?