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Author: David A. Brauer
Publisher:
ISBN:
Category : Labor market
Languages : en
Pages : 16
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Book Description
The deep recession that began in December 2007, when the economy began to contract, and ended in June 2009, when the economy began to expand again, has had a lasting effect on the labor market. More than four and a half years after the end of the recession, employment has risen sluggishly—much more slowly than it grew, on average, during the four previous recoveries that lasted more than one year. At the same time, the unemployment rate has fallen only partway back to its prerecession level, and a significant part of that improvement is attributable to a decline in labor force participation that has occurred as an unusually large number of people have stopped looking for work.
Author: David A. Brauer
Publisher:
ISBN:
Category : Labor market
Languages : en
Pages : 16
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Book Description
The deep recession that began in December 2007, when the economy began to contract, and ended in June 2009, when the economy began to expand again, has had a lasting effect on the labor market. More than four and a half years after the end of the recession, employment has risen sluggishly—much more slowly than it grew, on average, during the four previous recoveries that lasted more than one year. At the same time, the unemployment rate has fallen only partway back to its prerecession level, and a significant part of that improvement is attributable to a decline in labor force participation that has occurred as an unusually large number of people have stopped looking for work.
Author: David Brauer
Publisher:
ISBN:
Category : Labor market
Languages : en
Pages : 16
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Book Description
Author: Kyla C. Sims
Publisher: Nova Science Publishers
ISBN: 9781631178900
Category : Global Financial Crisis, 2008-2009
Languages : en
Pages : 0
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Book Description
The deep recession that began in December 2007 and ended in June 2009, has had a lasting effect on the labour market. More than four and a half years after the end of the recession, employment has risen sluggishly -- much more slowly than it grew, on average, during the four previous recoveries that lasted more than one year. At the same time, the unemployment rate has fallen only partway back to its pre-recession level, and a significant part of that improvement is attributable to a decline in labour force participation that has occurred as an unusually large number of people have stopped looking for work. This book discusses this slow recovery of the labour market, as well as assesses the relative magnitudes of cyclical and structural unemployment as they respond to different policy measures.
Author: I. Islam
Publisher: Springer
ISBN: 0230295185
Category : Business & Economics
Languages : en
Pages : 318
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Book Description
This book sheds light on the impact of the Great Recession from the perspective of both developing and developed countries. It traces the complex and multiple causes of the Great Recession, delineates the diversity in the macroeconomic and labour market consequences, and highlights the effectiveness of policy responses undertaken so far.
Author: Jared Bernstein
Publisher:
ISBN:
Category : Labor market
Languages : en
Pages : 28
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Book Description
Although the recent recession was officially declared over as of November 2001, on Labor Day 2003 the job market remains decidedly weak. Unemployment is high and, instead of coming down in the nascent recovery, it has climbed from 5.6% at the recession's end to 6.2% in July 2003 (the most recent data available). Tracking the nation's payrolls reveals the worst hiring slump since the Great Depression. And the weak labor market is not just a problem for those without jobs--wages have been growing more slowly for most workers and even falling in real terms for some. How could it be that the nation's economy is supposedly in recovery yet the job market is much weaker now than when the recession ended? The explanation has something to do with the criteria used to determine when a recession ends, but the main point is that, although the economy is expanding, it is doing so at too slow a rate to quickly lower unemployment or generate the needed job growth.
Author: Sylvain Leduc
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author:
Publisher:
ISBN:
Category : Budget
Languages : en
Pages : 196
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Book Description
Author: Kyle F. Herkenhoff
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 43
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Book Description
This paper documents the abnormally slow recovery in the labor market during the Great Recession, and analyzes how mortgage modification policies contributed to delayed recovery. By making modifications means-tested by reducing mortgage payments based on a borrower's current income, these programs change the incentive for households to relocate from a relatively poor labor market to a better labor market. We find that modifications raise the unemployment rate by about 0.5 percentage points, and reduce output by about 1 percent, reflecting both lower employment and lower productivity, which is the result of individuals losing skills as unemployment duration is longer.
Author: United States. Congressional Budget Office
Publisher:
ISBN:
Category : United States
Languages : en
Pages : 52
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Book Description
Author: Kyle Herkenhoff
Publisher:
ISBN:
Category :
Languages : en
Pages : 59
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Book Description
This paper documents the abnormally slow recovery in the labor market during the Great Recession and analyzes how mortgage modification policies contributed to delayed recovery. By making modifications means-tested by reducing mortgage payments based on a borrower's current income, these programs change the incentive for households to relocate from a relatively poor labor market to a better labor market. We find that modifications raise the unemployment rate by about 0.5 percentage points and reduce output by about 1 percent, reflecting both lower employment and lower productivity, which is the result of individuals losing skills as unemployment duration is longer.
