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Six Years from Its Beginning, the Great Recession's Shadow Looms Over the Labor Market
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Six Years from Its Beginning, the Great Recession's Shadow Looms Over the Labor Market

Heidi Shierholz
EPI, 2014
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Editorial Rating

8

Qualities

  • Comprehensive
  • Analytical
  • Well Structured

Recommendation

Several years since the Great Recession began, the US jobs market is still lagging. Economist Heidi Shierholz argues that the government must generate demand and that its first step should be to reinstate the unemployment insurance extension benefits it rescinded in December 2013. getAbstract recommends this well-reasoned treatise to economy watchers and to US policy makers, who want for an alternative view on how to create a job-rich recovery.

Take-Aways

  • The US labor market is weak despite falling unemployment figures.
  • Though declining unemployment is often a sign of an improving economy, several years after the start of the Great Recession it is a symptom of discouraged workers abandoning their search for employment.
  • The anemic employment market has meant that the bottom 90% of workers have had a cut in real income since 2007.

About the Author

Heidi Shierholz is an economist at the Economic Policy Institute.

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