Urban Institute. August 1, 2013.
The study examines changes in labor force participation during and after the Great Recession and makes comparisons with the recession of 2001. A deceleration in labor force entry rather than an acceleration in labor force exits has driven the decline in labor force participation during and after the Great Recession. The decline in entry rates is concentrated among women, particularly young women and among men ages 55 and older. Moreover, the authors find that the labor force exit rate is lower following the Great Recession than it was following the 2001 recession. [Note: contains copyrighted material].
http://www.urban.org/UploadedPDF/412880-why-are-fewer-people.pdf [PDF format, 6 pages].
Center for American Progress. July 2, 2013.
The structure of the world economy is evolving, with the flow of goods, money, people, and ideas integrating at remarkable speed, and with growth and investment coming increasingly from large and lower-income countries. There is a new geo-economic reality that presents a wealth of opportunities for global growth, but also a wealth of risks to economic well-being now and for the long term. Global economic institutions must evolve as well. The G-20 is leading this charge, but the institution-building has some way to go. As an institution, the G-20 draws its strength from the sense of community fostered among member countries’ leaders and officials. Though all parties have “skin in the game,” coordination to achieve well-known potential welfare gains for the world through stronger, more balanced growth is elusive in this noncooperative world. The central question is: What does the G-20 need to do institutionally to be capable of sustaining cooperation among member countries over the long term? [Note: contains copyrighted material].
http://www.americanprogress.org/wp-content/uploads/2013/07/HershG20-INTRO.pdf Summary [PDF format, 8 pages].
http://www.americanprogress.org/wp-content/uploads/2013/07/HershG20-report.pdf Full Text [PDF format, 44 pages].
YaleGlobal. November 7, 2012.
President Barack Obama has won the hard fought battle for a second term. The President and U.S. politicians must hurry to put finances in order, warns the author. Congress failing to agree on raising taxes or cut spending invoked a deus ex machina of painful automatic cuts and deadlines. Democrats, Wall Street investors, corporations and activists will push a divided Congress to develop a reasonable compromise that does not impose sudden austerity. “The really bad scenario is if a combination of EU recession, U.S. fiscal tightening and Asian slowdown interacted and fed off one another,” the author writes. A healthy global economy depends on U.S. Congress cooperating with President Obama to contain excessive health-care costs and deficits. [Note: contains copyrighted material].
Congressional Research Service, Library of Congress. October 19, 2012.
The global financial crisis and the U.S. recession, during the 19 months from December 2007 through June 2009, caused the U.S. trade deficit to decrease, or lessen, from August 2008 through May 2009. Since then it has begun to increase again as recovery has commenced. The financial crisis caused U.S. imports to drop faster than U.S. exports, but that trend has reversed as U.S. demand for imports recovers.
http://www.fas.org/sgp/crs/misc/RL33577.pdf [PDF format, 38 pages].
Urban Institute. October 15, 2012.
Even before the sharp and enduring increase in unemployment brought on by the Great Recession, policymakers and researchers were concerned about the “hollowing out” of the U.S. labor market. Over the last 25 years, employment and earnings growth for workers in middle-skill jobs has lagged behind growth for those in jobs requiring both the highest- and lowest-skilled workers. This phenomenon, known as “job polarization,” is most often attributed to new technologies and offshoring of manufacturing processes, which replace middle-skill jobs but complement high-skill jobs. [Note: contains copyrighted material].
http://www.urban.org/UploadedPDF/412680-Job-Polarization-and-the-Great-Recession.pdf [PDF format, 7 pages].