Poor area in endless recession (4)
I believe the answer is:
slum
'poor area' is the definition.
'endless recession' is the wordplay.
'endless' means to remove the last letter.
'recession' becomes 'slump' (I've seen this before).
'slump' with its final letter removed is 'SLUM'.
'in' acts as a link.
(Other definitions for slum that I've seen before include "Squalid, overcrowded dwelling" , "Area of poor housing" , "Area of bad housing" , "Over-crowded run-down city area" , "Ghetto" .)