Exact(2)
Recovery will continue at a very slow pace, and a recession generated by an unexpected shock will be a constant risk.Addendum: Karl Smith notes that the government could still reduce unemployment by taxing current workers and hiring the unemployed.
Early hopes in northern regions that their economies would be sheltered by the relatively large numbers of people working in the public sector have been dashed.The broad geographical spread of rising unemployment reflects the extent to which a recession generated by the credit crunch has taken casualties throughout the private sector.
Similar(58)
In their postwar table (p. 26 of their paper), they identify 1973-5 and 1981-2 as "banking crisis" recessions, which seems just wrong; while there may have been banking troubles, both were very clearly "Fed recessions", generated by sharp interest rate hikes intended to curb inflation.
With the cruise ship industry trying to recover from Sept. 11 and an industry recession generated late in the 1990's by overbuilding, the pressure to keep The World booked to capacity is strong.
This paper documents the severity of the Great Recession on the labor market and presents evidence that the majority of the sharp rise in unemployment during the Great Recession was generated by cyclical as opposed to structural factors.
One might have hoped that the labour market pain generated by the recession would have finally focused attention on some of these issues.
"If you are in the financial services category, to behave as you did a year ago is silly". At the same time, however, many consumers are weary of negativity generated by the recession and would be receptive to a more upbeat message, she adds.
The sting in the tail is that if countries are going to have to spend more money on food, and perhaps on other essentials too, that leaves less cash available for investment in a green technological transition - especially with many economies still labouring under huge debts generated by the recession.
The economic troubles generated by the Great Recession dimmed congressional interest in pursuing potentially disruptive climate fixes, believes Inglis, who is a proponent of market-based climate policies.
Rather, blame the inverse: larger disposable incomes generated by a strengthening post-recession economy.
Still others pointed to workers' fears for their jobs generated by the memory of the recession and widespread layoffs of the early 1990's.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com