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The effect on specific industries and geographical areas can be quite pronounced. Economists David Autor, David Dorn and Gordon Hanson wrote in 2013 that: "Rising imports cause higher unemployment, lower labor force participation, and reduced wages in local labor markets that house import-competing manufacturing industries. In our main ...
The effects of gender hierarchies were exacerbated during the height of COVID-19. [83] Women's unemployment was impacted more than men's, which is not the case during typical recessions. [79] Mothers were likely to suffer from unemployment for several reasons, including daycare closures, household structures, and job flexibility based on gender ...
Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed). [3] Unemployment can have many sources, such as the following: the status of the economy, which can be influenced by a recession
Workers in most states have 26 weeks of paid unemployment benefits, but according to the Bureau of Labor Statistics, 21% of workers are now taking more than 27 weeks to find a new job, up 3% from ...
The causality linking job losses to reduced business revenue is obviously grounded in reality, at least to a large extent. After all, it is self-evident that a firm with one million dollars in annual revenue cannot pay a two-million-dollar annual payroll without going into either debt or bankruptcy .
Let's face it, it doesn't take a scientific study for people to know that being out of work for a long time is no picnic. But, a new study by the Pew Research Center delves into just how bad it ...
If there is no hysteresis in unemployment, then for example if the central bank wishes to lower the inflation rate it may shift to a contractionary monetary policy, which if not fully anticipated and believed will temporarily increase the unemployment rate; if the contractionary policy persists, the unemployment rise will eventually disappear as the unemployment rate returns to the natural rate.
And the harm is always considerable, as described by a recent report in the Harvard Business Review. Medical studies have shown that the trauma of unemployment causes disease.