StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Nobody downloaded yet

Effects of Economic Recession on American Jobs - Coursework Example

Comments (0) Cite this document
Summary
The paper "Effects of Economic Recession on American Jobs" states that after the economic recession has worn away, the biggest issue that the companies have to address is of sustainability. After the end of the economic recession, efficiency has become the primary criteria of success…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.1% of users find it useful
Effects of Economic Recession on American Jobs
Read TextPreview

Extract of sample "Effects of Economic Recession on American Jobs"

Download file to see previous pages A vast majority of industries in the US were affected by this economic recession. The US could not find any way to escape the economic recession when the whole world had actually completely soaked in it. The circumstances took a fortunate turn in the last three months of 2009, and the economy began to grow and become strong, though the graph soon took a downward turn specifically in the latter half of 2010 when the growth of GDP in the US fell to 2 per cent. “The federal stimulus money that has added at least 1% but likely 2% or more to the GDP growth will be winding down and that could put at least as much of a drag on the economy as the boost it gave” (Hall).
When the recession was at its apogee, the years were full of pain for a lot of Americans because they had lost jobs. According to an estimate, as many as three-quarters of a million jobs were being lost on a monthly basis in the US in the years of recession (Bureau of Labor Statistics”). The rate of unemployment in the US reached 10.2 per cent by October 2009. Since then, it has shown a slight decline and has reached 10 per cent. Before stabilizing, the unemployment rate in the US is expected to go up to the end of 2011.
A loop of negative feedback was introduced by the economic recession which is expected to keep dragging the US economy for a while in the near future despite the fact that the economic recession has largely declined. Some of the components of this loop are high rate of unemployment, the inability of the unemployed to pay their mortgages and bills, and weakened wealth from loss of equity. People in the US are suffering from lack of income. Their lowered financial status is causing them to save more and spend less. Owing to the tightness of the credit, people in the US are finding it hard to purchase homes or establish new businesses. As a result of the declined consumer spending, businesses have lowered their production in an attempt to improve their efficiency. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Effects of Economic Recession on American Jobs Coursework - 1, n.d.)
Effects of Economic Recession on American Jobs Coursework - 1. https://studentshare.org/macro-microeconomics/1753343-effects-of-economic-recession-on-american-jobs
(Effects of Economic Recession on American Jobs Coursework - 1)
Effects of Economic Recession on American Jobs Coursework - 1. https://studentshare.org/macro-microeconomics/1753343-effects-of-economic-recession-on-american-jobs.
“Effects of Economic Recession on American Jobs Coursework - 1”. https://studentshare.org/macro-microeconomics/1753343-effects-of-economic-recession-on-american-jobs.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Effects of Economic Recession on American Jobs

Effects of Economic Recession on American Jobs

...? 3 June, Effects of Economic Recession on American Jobs: Officially, recession in US commenced in December, 2007. Recession can be defined particularly as the decline of Gross Domestic Product (GDP) in three successive quarters. As per the record maintained by the National Bureau of Economic Research's Business Cycle Dating Committee, the recession was officially declared to have ended by June, 2009 (Reddy cited in Hall). There did occur a baby recession period in US in 2001, though the actual recession occurred in the years of 2008 and 2009. This was the most severe form of economic recession that US had experienced in decades. A vast majority of industries in US were affected by this economic recession. US could not find any way...
6 Pages(1500 words)Research Paper

The Great Recession and The Policy Response

... effect upon those who are still relying on their future retirement plans. Either one of two things has happened to those people. Either they are unable to retire or those who did manage to retire had to go back to work if only to make ends meet for themselves and their immediate family. (Samuelson, Robert J. “The Great Recession's Aftermath”) It is not longer an uncommon sight to see senior citizens applying for part time jobs that are normally reserved for the students. America is now gripped in the clutches of the economic meltdown residue and nobody knows how to function in the best way at the moment. The American economy forced the people to become bitter and almost hopeless as each day under the Obama Administration passed. Everything...
6 Pages(1500 words)Research Paper

Economic recession

...What do you think caused the present economic recession' We have been hearing the world's most popular and much hated term day in and day out since last year called the 'recession.' It has infiltrated our lives and now seems almost alien and scary with the power it seems to possess with millions of people losing their jobs and even huge companies like GM and Chrysler requesting the Obama government to help them and bail them out. Large business conglomerates have also suffered huge losses due to the recession this time. But, what exactly is the recession' When a country's Gross Domestic Product (GDP) growth registers a decline for six or more months in a year on a continual basis or fails to recover for years together, it results...
12 Pages(3000 words)Essay

Losses jobs during the recession

... Losses of jobs during the recession Recession is more great, broad and deep than it is usually imagined on the surface of our imaginations. The great recession of 2008 and onwards has had far much worse effects mostly to the Latino population. Some years back, the number of employed Latinos was more than those of the whites. The surprising thing is that today tables have turned there are more whites employees than Latinos (Leonhardt, 2009). According to LEONHARDT (2009), 2008 recession is worse than the one witnessed in the 1990s and 1930s. It began from the Dakotas and it moving down to Texas. Daily there is rapid shedding of jobs. There is a very sharp fall of oil and crop prices. The most affected are the people who do not have...
2 Pages(500 words)Essay

Million American Jobs

...MANAGEMENT Which alternatives to increasing American based jobs and prosperity are better? I.Steer more students into technical schools .There are more jobs that do require technical training. This includes professional cleaners, paralegals, welders, medical technicians and welders. Most students should engage in this trainings because there is a gap and this will generate more workers with skills that employers (Newman, 2011) II. Enhance the payoff of a college degree.”Too many students earn degrees in arts, literature and social sciences, while theres a shortage of math, science and engineering grads. According to McKinsey, 2020 will have a shortage of 1.5 million college graduates. Therefore, the parents and educators could do a much...
1 Pages(250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Coursework on topic Effects of Economic Recession on American Jobs for FREE!

Contact Us