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There are many domestic factors affecting the U.S. labor force and employment levels. These include: economic growth; cyclical and structural factors; demographics; education and training; innovation; labor unions; and industry consolidation [2] In addition to macroeconomic and individual firm-related factors, there are individual-related factors that influence the risk of unemployment.
The New York Times reported some of the causes and consequences of higher black unemployment in February 2018: "Even at the low of 6.8 percent recorded in December [2017] — it climbed back to 7.7 percent in January — the unemployment level for black Americans would qualify as a near crisis for whites. And the relative gains have not erased ...
High unemployment can also cause social problems such as crime. If people have less disposable income than before, it is very likely that crime levels within the economy will increase. A 2015 study published in The Lancet, estimates that unemployment causes 45,000 suicides a year globally. [109]
With 66 consecutive months of growth, the U.S. is in the midst of one of its longest-lasting periods of economic expansion since 1850. In 2014, unemployment dropped to 5.6 percent—making it ...
November 26, 2007: US markets enter a correction as worries about the financial sector continued to mount. [100] December 2007: Unemployment in the US hit 5%. [101] December 12, 2007: The Federal Reserve instituted the Term auction facility to supply short-term credit to banks with sub-prime mortgages. [102]
The IMF expects US public debt to continue rising, helping drive government debt worldwide to close to 100% of global gross domestic product by 2029, from 93% last year.
Jamie Dimon believes U.S. public debt is the ‘most predictable crisis’ the economy faces—and yet in just 3 months America has added $2.1 trillion to its tab Eleanor Pringle June 21, 2024 at ...
As for the concern that productivity growth drives unemployment, the very idea is controversial, and it depends on whatever the true reality may be in the relationship of automation to unemployment. Certainly a pattern of multiple jobless recoveries , where GDP grows while employment stagnates, makes the public wonder about firms' assurances ...