U.s. National Bureau Of Economic Research - 1235 Words

In December of 2007 the Great Recession hit not only the american but the world’s economy. According to the U.S. National Bureau of Economic Research (NBER) the struggle didn’t end in the United States until June 2009, and therefore had a duration of about 18 months. This global crisis â€Å"ranks fourth in terms of the weighted sum of countries suffering it† (NBER). Consumers, who had been the engine of the economy for the past several decades, suffered the loss of their jobs. Between 2008 and 2009, â€Å"the U.S. labor market lost 8.4 million jobs, or 6.1% of all payroll employment† (State of Working America). This resulted in â€Å"the most sever consumer spending decline since World War II† and the worst employment contraction since the Great Depression, reaching a peak of 10% of all the workforce on October 2009 (BLS). The economy was already faltering in the banking sector, but it finally crashed with the dearth of credit. As a heart distribut es the blood throughout the human body, even reaching the limbs, allowing the body to work properly, the banking sector â€Å"pumps† credit, reaching every business in every sector. When the banking sector stops giving credit, the whole economy freezes since businesses don’t have means to pay their bills. There are reasons why the banks stopped the flow of credit, and they could have been avoided if the government had corrected the bad manners to which the banking sector was getting used, all driven by the ambition to generate more revenue. TheShow MoreRelatedU.s. National Bureau Of Economic Research817 Words   |  4 Pagesrising unemployment and declining GDP (gross domestic product) that lasted until 2009. This period was dubbed the Great Recession due to the severity of the negative impacts. The U.S. National Bureau of Economic Research defines a recession as a â€Å"period of at least two consecutive quarters of declining levels of economic activity† (Krab benhoft), and during the time span between 2007 and 2009 GDP decreased by 3.5 percent and unemployment rate increased more than 5 percent. The gross domestic productRead MoreRole Of The Business Cycle Dating Committee Of The National Bureau Of Economic Research1292 Words   |  6 Pages In this paper, I will explain the roles and importance of the Business cycle Dating committee of the National Bureau of Economic Research. I will also explain how the NBER defines and dates recessions. Finally I will explain the important aspects and effects of the last recession. The Business Cycle is â€Å"†¦the ups and downs in economic activity, defined in terms of periods of expansion or recession† (Dr. Econ). Expansion is the period in which employment, production, sales and income increaseRead MoreThe Long Run Consequences Of Slow Economic Recovery After Periods Of Recessions1477 Words   |  6 PagesAbstract This research examined and listed some of the evidence demonstrating the long-run consequences of slow economic recovery after periods of recessions in the U.S. economy on wage earners of a four person family. Economy shifts were examined and its effect on the four member family, two adult wage earners, and two children was analyzed. This trend and shift of and within the economy contributed to the overall wholeness and well-being of the family. As a rising economy produced family stabilityRead MoreRaising Money in U.S. Stock Markets1047 Words   |  5 Pages1. Is raising money in U.S. stock markets more - or less - difficult than in the rest of the world? To start, using the article that is cited for the class is†¦well, dated at the very least. The United States has gone through at least a complete financial cycle since after the article was written. The tech bust and then the quickly following tragedy of September 11, 2001 with the ensuing market meltdown were just the beginning. Just to put it into perspective, â€Å"’During the last seven yearsRead MorePoverty and Its Effect on Society1421 Words   |  6 Pagesrecent events such as the economic collapse and recession, the U.S. reported a Gross Domestic Product (GDP) of $47,200 per capita in 2010 (estimated). The U.S. has maintained its status as the largest and most technological country due to its market based economy (CIA-The World Fact Book). However, while the U.S. has reported such high numbers in GDP, we rank third in poverty with a 17% poverty rate. This ranking is among the top thirty of the Organization for Economic Co-operation and DevelopmentRead MoreEssay on Three Executive Departments within Congress762 Words   |  4 Pageslast day of the 30th Congress, that a bill was passed to create the Department of the Interior to take charge of the Nations internal affairs. The Interior Department had a wide range of responsibilities entrusted to it: the construction of the national capitals water system, the colonization of freed slaves in Haiti, exploration of western wilderness, oversight of the District of Columbia jail, regulation of territorial governments, management of hospitals and universities, management of publicRead MoreFormal Justification Report: Recommendation to the Workforce Training and Education Coordinating Board1434 Words   |  6 Pagesassistant director for research and methodology at the U.S. Census Bureau and coauthor of that research paper, titled Who Creates Jobs? Small vs. Large Vs. Young, The only group that disproportionately creates jobs is startups (Rosenberg, 2001). Jarmin and his coauthors report that startups are responsible for nearly 20 percent of the gross number of jobs created year-over-year, even though they account for only 3 percent of U.S. employment (Rosenber, 2001). All of the U.S. job growth from theRead MoreFinancial Education : An Organization For The World Of Economics And Finance905 Words   |  4 Pagesdatabases, this research narrowed itself when used the terms financial education, financial education research and community impact; the National Institute of Health darted this National Bureau of Economic Research report. The National Institute of Health, (NIH), via its database public access is one of the leading medical research entities in the world, an agency of the U.S. Department of Health, a trusted and stablished research source, along with the National Bureau of Economic Research (NBER), anRead MoreThe Viability of Small Photovoltaic (PV) Systems Installation1218 Words   |  5 PagesThe purpose of this analysis is identification of the relative impact of economic factors for entities contemplating entry into the Midwest Region solar energy installation market as installers of solar photovoltaic energy systems (PV systems) for homes and small businesses. Many individuals are concerned with renewable energy. They believe it provides a reduction in utility consumption and cost. They also believe government subsidies, and environmental preservation makes the idea more attractiveRead MoreTexas : The Lone Star State Essay1372 Words   |  6 Pagesalways been very unique compared to any other state in the United States of America. Texas have a sense of great pride in where they come from. Texans hold their heads a just a little higher than anyone else. Texas is the second largest state in the U.S., Texans have their own pledge of allegiance to the state flag, and is the only state whose flag is permitted to fly as high as the American flag. So, why is it that Texans take so much pride in their own state? Texans take great pride in their state