Recession

The social and economic consequences of austerity measures imposed by troika on Greece have been devastating. Since 2010, Greece’s GDP has fallen by 25 percent and unemployment rate is 26 percent. The youth unemployment rates are at an alarmingly high level. Currently, over 56 percent of young people in Greece are without a job and there are more than 450,000 families with no working members. After five years of fiscal adjustment and economic hardship under the austerity program, Greece’s major…

Economics First Paper In 2008 the United States economy was greatly struggling and in a devastated position. This was caused by the increasing rate of unemployment and the GDP reducing substantially. In order to turn the economy around the government enacted a stimulus plan that would increase the government spending and decrease taxation. In this essay I will be reviewing The American Recovery and Reinvestment Act of 2009 and answering the prompt provided. The American Recovery and…

This essay will address the Labour Party’s electoral performance in the 2010 and 2015 General Election. There are several factors that have contributed towards Labours performance in the 2010 and 2015 General Elections. For example; economic performance, party identification, communication, rise in power by the SNP, support by the media, poor leadership, tactical voting, the introduction of challenger parties and political ideologies. One could argue that the Labour party performed worse in the…

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 &…

In a study examining the Great Recession and its effects on the U.S. economy, Freeman (2010) found that banking crises are often consistent with higher short-term levels of poverty and income inequality. His research concludes that real wage cuts and reduced working hours are the channels…

The recession's calm before the storm in began in the spring of 2008 with the market dropping and banks running low on money. It was if the stock market was in a ´freefall´ they described it. As everyone began to notice the descending market and realized that this was a ´formula for disaster´ and that there was nothing you could do to stop it. Thursday, the reserves were almost completely empty and it was still dramatically dropping. As the day went on people began to see the realism of the…

There may be an upside to economic recessions, as health tends to improve for Americans during recessions. This is counterintuitive as traditional thinking suggests that economic development would lead to a better healthcare system and better health. During recessions, unemployment rates rise resulting in Americans working less. Recent studies suggest that “for every 1 percent increase in unemployment during recessions, we’re seeing a 0.5 percent drop in adult mortality rate.” This emphasizes…

Reversing Gum Recession: Why Your Gums Recede and What You Can do About it What is gum recession and what causes it? Should you notice that your teeth look longer than they once did or you experience increased sensitivity, look at the tissue at the base of your gums. When the gum tissue that covers the root of the teeth starts to recede, or pull back, it's called gum recession. If ignored, gum recession can cause not only extensive damage to the bones in your jaw, but can result in tooth loss…

During the 2008 recession, a lot of industries collapsed do to the recession. The car industry was one of the many industries that collapsed during the recession. The car industry was forced to pull back the leasing deals and the other financial stimulant that led to an increase of their sale numbers for many years prior to the recession. However, the car industry is under a lot of pressure due to the record sales numbers of last year. Now the car industry faces a pivotal decision in order…

Canadian economy enters recession Canada has entered recession due to a fall in the price of US crude oil, which has contributed to a lower demand for oil produced in Canada, therefore leading to a decrease in exports and thus a fall in real GDP. The Canadian economy has a negative growth and a contraction of 0.8% and hence indicating a recession. A recession occurs due to a period of a decline of GDP and consequently leading to an increase in unemployment. This occurs in the contraction…