Great Recession

This tag is associated with 94 posts

Two Recoveries in US – One for Black and one for White homeowners

America’s racial wealth gap increased dramatically following the recent housing market collapse, placing black homeowners at severe economic disadvantage, perhaps for generations to come. A study conducted for the ACLU by the Social Science Research Council, examined data from the longitudinal Panel Study on Income Dynamics concerning black and white households that owned a home … Continue reading

US – The population-wide impact of the Great Recession on mental health

Prevalence of major depression increased from 2.33 percent during the years 2005-2006 to 3.49 percent in 2009-2010 to 3.79 percent in 2011-2012, according to the study by Loyola University Chicago Stritch School of Medicine researchers. Prevalence of less-severe depression increased from 4.1 percent in 2005-2006 to 4.79 percent in 2009-2010, but then declined to 3.68 … Continue reading

Youth Unemployment in Australia – The impacts of the Global Financial Crisis on

Australia was one of the few OECD countries to emerge from the Global Financial Crisis (GFC) without facing a recession, usually defined as negative GDP growth for two consecutive quarters. However, the (overall) unemployment rate did increase following the GFC and has still not returned to the pre-GFC levels. Unemployment rates for youths went up … Continue reading

US – Most (60%) see only a partial recovery in jobs Pew finds

The public makes sharp distinctions about which groups have benefited – and which have not – from the economic policies the government has put in place since the start of the recession. Majorities say that large banks, large corporations and the wealthy have been helped a great deal or a fair amount by government policies. … Continue reading

The Great recession and the Families in US – The most dramatic impact was on birth rates

The most dramatic impact was on birth rates, which dropped precipitously, especially for young women, as a result of the economic crisis. How do we know? First, the timing of the fertility decline is very suggestive. After increasing steadily from the beginning of 2002 until late 2007, birth rates dropped sharply. (The decline has since … Continue reading

US – The overall employment ratio in major metro areas was lower in 2013 than in 2007

In 2007, about 79 million of 106 million adults aged 25 to 64 in the nation’s 100 largest metro areas were working, equating to an employment ratio of 74.8 percent (Figure 1). This ratio dipped in 2010 to 72 percent, as 1 million fewer adults were working that year, even though their overall numbers had … Continue reading

US – More than 20% laid off the past five years are still unemployed study finds

More than 20% of Americans laid off the past five years are still unemployed and one in four who found work is in a temporary job, according to a survey out Monday. The report underscores that despite a sharp drop in long-term unemployment recently, many people out of work at least six months are still … Continue reading

The aftermath of the Great Recession in US – Historically terrible for the middle class

The Census Bureau has been tracking median household income since 1967. America has endured seven recessions since then. The first five of those recessions saw a similar pattern when they ended: By the fifth year of recovery, median incomes had risen. This was true even for the recession that ended in 1980 – when the … Continue reading

Older Workers Who Lost Their Jobs During The Great Recession In US – Stronger welfare policies would have helped their mental health research finds

The old cliché states, “Money doesn’t make you happy”, but is this really true? In new research, Carlos Riumallo-Herl finds that wealth had an insulating effect against depression for older workers who lost their jobs during the Great Recession in the U.S. He finds that in comparison to workers in the U.S., those in Europe … Continue reading

Workfare in US – Rules suspended during recession are coming back

In the coming months, food stamp work requirements suspended during the Great Recession will be reinstated in at least 17 states, jeopardizing benefits for hundreds of thousands of Americans.In those states, work requirements will be back in place for able-bodied adults who are 18 to 50 years old and have no children. It’s possible the … Continue reading

Job Search in US – It has changed in the aftermath of the Great Recession

The proportion of unemployed individuals who spent some time on an average day searching for a job increased from 20 percent to 24 percent after the recession. However, and perhaps surprisingly, among those unemployed who did search, the average time spent on job search looked very similar in the five years on either side of … Continue reading

The Job Gap in US – 5.6 million jobs as of August 2014 finds The Hamilton Project

Each month, The Hamilton Project calculates America’s “jobs gap,” or the number of jobs that the U.S. economy needs to create in order to return to pre-recession employment levels while absorbing the people who newly enter the labor force each month. As of the end of August 2014, our nation faces a jobs gap of … Continue reading

US by State – The unemployment rate before and after the great recession

Even before the recession, there was a huge range in unemployment rates among states. Most of the dozen states that have seen their unemployment rates fall since before the recession have benefited from the recent boom in the oil and gas business. Many of the states where the unemployment rate is much higher than it … Continue reading

Employment Rate in Canada and the United States since the Last Recession – Both flat

The employment rate corresponds to the percentage of the working-age population that is employed. It allows the interpretation of employment growth in relation to population growth. Employment growth that is greater than population growth can be indicative of an improvement in the state of the labour market. The employment rate increases (decreases) when employment growth … Continue reading

Europe – The recession is really a depression

Eurozone GDP still hasnt gotten back to its 2007 level, and doesnt look like it will anytime soon. Indeed, it already wasnt clear if its last recession was even over before we found out the eurozone had stopped growing again in the second quarter. And not even Germany has been immune: its GDP just fell 0.2 percent … Continue reading

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