unemployment rate remains elevated at 9 5 percent and many economists worry that the country is, at best, in a jobless recovery similar to what occurred after the
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9 mar 2009 · The unemployment rate for prime- working-age men rose by 2 4 percentage points, to 6 2 per- cent, in the fourth quarter of 2008, while the
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This reported increase in unemployment most likely underestimates the true depth of the problem, since job loss figures are based on official labour statistics,
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Unemployment and inactivity in the 2008–2009 recession
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Employment in the 2008–2009 recession After some 15 years of near continuous job growth, the employment rate in the UK in 2008 stood at around 75 per
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This fall in the participation rate contributed to a decline in the labour force of 5 percent between 2008 and 2011 The increase in unemployment shown in Table 1
[PDF] The-Great-Recession - Institute for Research on Labor and
unemployment rate remains elevated at 9 5 percent and many economists worry that the country is, at best, in a jobless recovery similar to what occurred after the
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![[PDF] The-Great-Recession - Institute for Research on Labor and [PDF] The-Great-Recession - Institute for Research on Labor and](https://pdfprof.com/Listes/27/19549-27The-Great-Recession-Jobless-Recoveries-and-Black-Workers.pdf.pdf.jpg)
December 2007, aptly has been called the
Great Recession. ?e trough of job losses
occurred in December 2009, by which time8.4 million or 6.1 percent of all non-farm
jobs were lost. ?is represented the largest decline of jobs (in either absolute numbers or percentage terms) since the Great Depression of the 1930s.In response to this ongoing crisis, Congress
passed theAmerican Recovery and
Reinvestment Act of 2009
- a spending and tax relief package that totaled $787 billion.While the ARRA provided much needed
relief and stimulus, the size and scope of the package was not in proportion to the enormity of the crisis. Too much of it was geared to ine?ective tax cuts instead of direct job creation, and the crisis proved to be muchworse than originally thought. Today the 1. ?e Bureau of Labor Statistics calculates unemployment from Current Population Survey data. Persons are classified as unemployed if they do not have a job, have actively
looked for work in the four weeks prior to the survey, and are currently available for work. Receiving benefits from the Unemployment Insurance (UI) Program has no bearing
on whether a person is classified as unemployed. unemployment rate remains elevated at 9.5 percent and many economists worry that the country is, at best, in a jobless recovery similar to what occurred a?er the 1990 and 2001 recessions. At worst, we may be heading into a dreaded double-dip. For the black community, the Great Recession has been catastrophic, and the prospect of a jobless recovery or further recession will extend the widespread economic and social woes in which much of the community is now mired. t he State of Black Workers since the Beginning of the g reat r ecession ?e most o?-cited measure of labor market distress is the o?cial unemployment rate.