From the Great Recession to Labour Market Recovery PDF Download

Author: I. Islam
Publisher: Springer
ISBN: 0230295185
Category : Business & Economics
Languages : en
Pages : 300

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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: Jon Carleton Messenger
Publisher: Edward Elgar Publishing
ISBN: 1782540881
Category : Business & Economics
Languages : en
Pages : 321

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Book Description
'Work sharing' is a labour market instrument devised to distribute a reduced volume of work to the same (or similar) number of workers over a diminished period of working time in order to avoid redundancies. This fascinating and timely study presents the concept and history of work sharing and explores the complexities and trade-offs involved in its use as both a strategy for preserving jobs and a policy for increasing employment. The expert contributors examine the resurgence in the use of work sharing as a job preservation strategy via country case studies of work-sharing programmes implemented across the globe during the Great Recession of 20082009. These studies clearly illustrate that work sharing has been successful as a crisis-response measure in a number of countries. Lessons learned and their implications are presented alongside prescriptions on how to design permanent work-sharing policies that would provide appropriate incentives to generate positive effects for employment and promote a sustainable and job-rich economic recovery. This enlightening book will prove invaluable to academics, researchers, students and policymakers in the fields of labour economics, public sector economics and social policy.

Author: Arup Banerji
Publisher: World Bank Publications
ISBN: 0821394622
Category : Business & Economics
Languages : en
Pages : 241

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Book Description
This book reviews the experience of workers in developing countries during the global financial crisis of 2009, asseses the recovery, and provides new evidence on the policy response that countries undertook in response to the crisis.

Author: Keeley Brian
Publisher: OECD Publishing
ISBN: 9264077073
Category :
Languages : en
Pages : 146

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Book Description
From Crisis to Recovery traces the causes, course and consequences of the “Great Recession”. It explains how a global build up of liquidity, coupled with poor regulation, created a financial crisis that quickly began to make itself felt in the real economy.

Author: David B. Grusky
Publisher: Russell Sage Foundation
ISBN: 1610447506
Category : Business & Economics
Languages : en
Pages : 344

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Book Description
Officially over in 2009, the Great Recession is now generally acknowledged to be the most devastating global economic crisis since the Great Depression. As a result of the crisis, the United States lost more than 7.5 million jobs, and the unemployment rate doubled—peaking at more than 10 percent. The collapse of the housing market and subsequent equity market fluctuations delivered a one-two punch that destroyed trillions of dollars in personal wealth and made many Americans far less financially secure. Still reeling from these early shocks, the U.S. economy will undoubtedly take years to recover. Less clear, however, are the social effects of such economic hardship on a U.S. population accustomed to long periods of prosperity. How are Americans responding to these hard times? The Great Recession is the first authoritative assessment of how the aftershocks of the recession are affecting individuals and families, jobs, earnings and poverty, political and social attitudes, lifestyle and consumption practices, and charitable giving. Focused on individual-level effects rather than institutional causes, The Great Recession turns to leading experts to examine whether the economic aftermath caused by the recession is transforming how Americans live their lives, what they believe in, and the institutions they rely on. Contributors Michael Hout, Asaf Levanon, and Erin Cumberworth show how job loss during the recession—the worst since the 1980s—hit less-educated workers, men, immigrants, and factory and construction workers the hardest. Millions of lost industrial jobs are likely never to be recovered and where new jobs are appearing, they tend to be either high-skill positions or low-wage employment—offering few opportunities for the middle-class. Edward Wolff, Lindsay Owens, and Esra Burak examine the effects of the recession on housing and wealth for the very poor and the very rich. They find that while the richest Americans experienced the greatest absolute wealth loss, their resources enabled them to weather the crisis better than the young families, African Americans, and the middle class, who experienced the most disproportionate loss—including mortgage delinquencies, home foreclosures, and personal bankruptcies. Lane Kenworthy and Lindsay Owens ask whether this recession is producing enduring shifts in public opinion akin to those that followed the Great Depression. Surprisingly, they find no evidence of recession-induced attitude changes toward corporations, the government, perceptions of social justice, or policies aimed at aiding the poor. Similarly, Philip Morgan, Erin Cumberworth, and Christopher Wimer find no major recession effects on marriage, divorce, or cohabitation rates. They do find a decline in fertility rates, as well as increasing numbers of adult children returning home to the family nest—evidence that suggests deep pessimism about recovery. This protracted slump—marked by steep unemployment, profound destruction of wealth, and sluggish consumer activity—will likely continue for years to come, and more pronounced effects may surface down the road. The contributors note that, to date, this crisis has not yet generated broad shifts in lifestyle and attitudes. But by clarifying how the recession’s early impacts have—and have not—influenced our current economic and social landscape, The Great Recession establishes an important benchmark against which to measure future change.

Author: William K. Roche
Publisher: Oxford University Press
ISBN: 0198792379
Category : Business & Economics
Languages : en
Pages : 369

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Book Description
In international commentary and debate on the effects of the Great Recession and austerity, Ireland has been hailed as the poster child for economic recovery and regeneration out of deep economic and fiscal contraction. While the genesis of Ireland's financial, economic, and fiscal crisis has been covered in the literature, no systematic analysis has yet been devoted to the period of austerity, to the impact of austerity on institutions and people, or to the roots of economic recovery. In this book a group of Ireland's leading social scientists present a multidisciplinary analysis of recession and austerity and their effects on economic, business, political, and social life. Individual chapters discuss the fiscal and economic policies implemented, the role of international, and, in particular, of EU institutions, and the effects on businesses, consumption, work, the labour market, migration, political and financial institutions, social inequality and cohesion, housing, and cultural expression. The book shows that Ireland cannot be viewed uncritically as a poster child for austerity. While fiscal contraction provided a basis for stabilizing the perilous finances of the state, economic recovery was due in the main to the long-established structure of Irish economic and business activity, to the importance of foreign direct investment and the dynamic export sector, and to recovery in the international economy. The restructuring and recovery of the financial system was aided by favourable international developments, including historically low interest rates and quantitative easing. Migration flows, nominal wage stability, the protection of social transfer payments, and the involvement of trade unions in severe public sector retrenchment - long-established features of Irish political economy - were of critical importance in the maintenance of social cohesion.

Author: Barry Z. Cynamon
Publisher:
ISBN: 9781139555760
Category : Global Financial Crisis, 2008-2009
Languages : en
Pages : 340

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Book Description
"The severity of the Great Recession and the subsequent stagnation caught many economists by surprise. But a group of Keynesian scholars warned for some years that strong forces were leading the US toward a deep, persistent downturn. This book collects essays about these events from prominent macroeconomists who developed a perspective that predicted the broad outline and many specific aspects of the crisis. From this point of view, the recovery of employment and revival of strong growth requires more than short-term monetary easing and temporary fiscal stimulus. Economists and policy makers need to explore how the process of demand formation failed after 2007 and where demand will come from going forward. Successive chapters address the sources and dynamics of demand, the distribution and growth of wages, the structure of finance and challenges from globalization, and inform recommendations for monetary and fiscal policies to achieve a more efficient and equitable society"--

Author: Nichole Caldwell
Publisher: Nova Science Publishers
ISBN: 9781634821841
Category : Labor market
Languages : en
Pages : 0

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Book Description
Young adults in the United States have experienced higher rates of unemployment and lower rates of labour force participation than the general population for at least two decades. The Great Recession exacerbated this phenomenon. Despite a substantial labor market recovery from 2009 through 2014, vulnerable populations -- including the nation's young adults -- continue to experience higher rates of unemployment. Meanwhile, changes in labour market conditions, including globalisation and automation, have reduced the availability of well-paid, secure jobs for less-educated persons, particularly those jobs that provide opportunity for advancement. Furthermore, data suggest that young workers entering the labour market are affected by a long-running increase in the use of "contingent" work arrangements, characterised by contracted, part-time, temporary, and seasonal work. This book summarises insights from the Survey of Young Workers and related research in the field; and it frames policy and research issues for future consideration by the Federal Reserve Board and others interested in young workers.

Author: International Labour Office
Publisher: International Labour Organization
ISBN: 9789221206262
Category : Law
Languages : en
Pages : 36

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Book Description
In this repport the Director-General's discusses his main concerns about the current global crisis and what should be done about it. Millions of men & women have lost their jobs; business bankruptcies continue to grow exponentially; unemployment is expected to continue to rise probably until 2011; meanwhile 45 million people will enter the labour market in 2009 and following years looking for their first job. The IMF forecasts some recovery in global growth but this is conditional on the success of stimulus packages. Evidence of past crises indicates that, even after economic growth returns, employment only recovers to pre-crisis level with a lag of four to five years. And there was already a significant work deficit before the crisis. Knock on effects such as the increase in demand for social protection when jobs are not available can also be seen. Ultimately, on a broader level, prolonged crises carry major risks for social and political stability

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.