Great Recession

the beginning of 2014, oil was trading well above $100 per barrel. In January 2016 US Oil was trading at 26 dollars a barrel. Historically major oil price declines are driven by central bank policy errors that led to global economic recessions. During an economic recession, the world activity reduces causing the oil demand to reduce. The current oil price decline is not a cause of a decline in oil demand instead it is driven by an increase in supply. Due to the fracking technology oil…

reducing unemployment are demand side policies and supply side policies. Demand side policies reduce demand-deficient unemployment, unemployment caused by a recession. On the other hand, supply side policies reduce structural unemployment, the natural rate of unemployment. (Pettinger, 2011) Demand side policies are significant when a recession occurs and there is a growth in cyclical unemployment. John Neville argues that in the golden age, fiscal policy was an important expansionary instrument…

During economic downturn, it is clear that most companies are focused on budget cuts and reduce costs in different ways in order to save themselves from financial crises. Among these ways, layoff and hiring freezes are the main ones that companies’ decision making bodies are argued on as the best cost reduction methods. According to WSN Editorial Board, “In the past decade we have gone from the best labor market in our economic history to arguably one of the worst. It is going to take years, if…

the business cycle: Recovery, Peak, Recession, and Trough. During the recovery period the economy is growing. This means that there will be more job openings and businesses will increase product. People are willing to spend more money because times are good for them at the moment and they are very optimistic about the future. During the peak period the economy is at its highest point. This means that prices will be high because demand is high. During the recession period the economy is…

the risk of job insecurity shifts toward employees. For example, employees now pay more of the premium and absorb more of the risk than do employers; and the decline in defined benefit plans (Arne L. Kalleberg, 2008). Also, because of the recent recession, many companies have been seeking cost reductions by decreasing payment (Hassard_et_al-2012). Thus, structural change becomes inevitable for most multinational firms. With thousands of employees…

In this essay, I want to discuss how does Spirited Away reflected issues of Japanese society in 1990s. Japan experienced strong economic growth in the second half of the 20th century. However, from 1990 to 2000, the Japanese economy experienced a recession because of the Japanese asset price bubble’s collapse (wikipedia). Miyazaki addressed issues that related to the economic downturn in the Japanese society. First of all, Miyazaki implies that adult like Chihiro’s parents who grown up during…

Statisticians determine the unemployment rate in the United States by dividing the number of people in the labor force by the number of unemployed (Rittenberg & Tregarthen, 2009, p.511). Moreover, the Bureau of Labor Statistics counts an individual as unemployed if they are currently without employment yet are seeking work (Rittenberg & Tregarthen, 2009, p.511). Combining the total number of people working with those that are unemployed reveals the number in the labor force (Rittenberg &…

affected the lives of the American people are technological advancements, the economic recession of 2008, and the terrorist attacks of September 11, 2001. One of the most significant changes that changed American lives was technological advancements which is very helpful to many Americans. Technological innovations took place in…

Companies have to make the decision to increase prices or to let employees go to keep their businesses alive. The United States recession of 2008 saw a decrease in employment of over 6% double that of all previous postwar recessions (Auguste, Lund, & Manyika, 2011). During the most recent economic recession one million jobs were lost in the retail sector. After the recession the industry added more than 90,000 jobs, but it still resulted in job losses offsetting job gains because of rough…

class during the Great Recession in their article The Making of the American 99% and The Collapse of the Middle Class. It is suggested that race and ethnicity played an even bigger role in the loss of homeownership during 2007-2008. “African-Americans and Latinos of all income levels disproportionately lost their homes to foreclosure in 2007 and 2008, and then disproportionately lost their jobs in the wave of layoffs that followed.”(Ehrenreich). The obstacles of economic recessions and being…