"Today’s jobs report shows that employers continued to add jobs in May, but total employment (private and government combined) remains well below its level at the December 2007 start of the Great Recession (see chart). Job losses were far greater than in other recent recessions, and the pace of job recovery has been no faster than it was from the much milder 2001 recession — partly due to federal fiscal actions since 2010."
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- Policy Basics: Unemployment Insurance
A recession is a significant decline in the size of the U.S. economy lasting more than a few months, normally visible in a variety of economic indicators. Economic stimulus policies aim to avert a recession or lessen its severity by boosting the economy in the short term. The unemployment insurance system helps people who have lost their jobs by temporarily replacing part of their wages, typically for up to 26 weeks.
- The Legacy of the Great Recession
Paul Van de Water
The Center examines the impact of changes in the economy on federal and state budgets, as well as the likely effectiveness of economic stimulus proposals. We also examine trends in employment and promote reforms to strengthen the unemployment insurance system.
Updated June 11, 2013
June 7, 2013
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