The United States Economy Experienced A Recession Essay

The United States economy is racing ahead at dangerous speeds, and it may be too late to prevent the return of widespread inflation. Ideally the economy should move ahead gradually and grow at a steady manageable rate. Mae West once stated “Too much of a good thing can be wonderful” and it seems the U.S. Treasury Secretary agrees. The Secretary announced that due to our increasing surplus and booming economy, instead of having an outsized tax cut, we should use the surplus to further pay down the national debt. A tax cut, though most Americans would favor it initially, would prove counter productive. Cutting taxes would over stimulate an already raging economy, and enhance the possibilities of an

Chapter 1 of our text focuses on an understanding of one’s place in one’s field through such things as personal traits, preferences, and values. Evaluate the list of personal values that employers seek, found on page 8 of our text. Share two of the personal values listed that you feel are the most important. Support your view with

The news mediums, television, radio, print, or social media give information 24-hours a day regarding the economy. Individuals are not so sure about the reports issued on almost an hourly basis that are stating the economy of United States is improving. Many Americans are still without jobs, and do not believe their income can continue to support their families. The cost of purchasing a home is going up in many areas across the country, which is good for the market, but can be bad for the first time homebuyer. Unemployment, expectations, consumer income, interest rates are economic factors that influence individuals behavior and the United States fiscal policy.

The recession of 2008 is also called the ‘Great Recession’, said to have begun in December 2007, and took a turn for the worse in September 2008, and it was a severe economic problem expanded globally. This recession affected the world economy, and is said to have been the worst financial disaster since the Great Depression. The decline in the Dow Jones this time was -53.8%. Since the official start of the recession in December 2007, and through June 2010 there have been about 2.3 million homes foreclosed in the United States. In 2012, the state with the most foreclosures in January alone was California, with 51,584 houses being repossessed. Unemployment during this collapse was 8.5%, and continued to increase to about 10% as of 2010. People’s reaction to this recession was a huge decrease in spending and borrowing from banks, but an increase in saving.

George Santayana, a Spanish poet and philosopher said, "Those who do not learn history are doomed to repeat it." This quote applies to the Great Depression of 1929 and the Great Recession of 2008. There are many similarities between the two, like the causes, the actual events, and the aftermaths. Several factors led to the Great Depression, which were the following: overproduction by business and agriculture, unequal distribution of wealth, Americans buying less, and finally, the stock market crash of 1929. The Great Recession also had similar factors leading to it, like the housing “bubble” burst and less consumer spending. In both events, the Presidents enacted programs that they believed would help the American people.

The 1980-1982 Double Dip recession brings up the curiosity of how the stagflation of the seventy’s affected the early eighty’s in which it caused the Fed and the USA congress to be switching back and forth from stimulus and restraints causing us to fall to our first recession. Then not till later we will see that Paul Voucher Chairman of the Board of Governors use heavy monetary restraints to control the inflation and ending the first recession only to ending up pushing us back into the second recession of our Double Dip.

Likewise, the current generations in the workforce have different values. Research surveys done by Gibson et al. (2009) and Crumpacker and Crumpacker (2007) have found that the generations have diverse values. It was found that Baby Boomers value health, family, honesty, responsibility and company loyalty more than anything else. Researchers also found the Baby boomer workers value authority, hard work and achievement. Additionally, Baby Boomers value when someone communicates with them one-on-one rather than using technology (Crumpacker & Crumpacker, 2007; Gison et al., 2009). In contrast, Generation X workers tend to value family security, health, honesty and responsibility the most. In addition it was found that they value a comfotable life

Everybody in the United Stated was affected by the recession that began in December of 2007 and spanned all the way to June 2009. Even though the recession is over, many people are still being affected by it and have still not been able to recover from the great recession. “The recent recession features the largest decline in output, consumption, and investment, and the largest increase in unemployment, of any post-war recession”. Many people lost their jobs due to the recession and some of them are still having a hard time finding jobs and getting back on their feet. Businesses

The Great Depression and Great Recession were two unique events that had monumental impact on the economy. Both had similarities, and differences that made them unique. The Great Depression was caused by people living on credit, and when it was time to pay they didn’t have the money, this happened on a wide spread scale. The crashing of the stock market was what officially started the Great Depression in 1929. The great recession was caused by subprime mortgages as well, as risk taking by financial institutions. Much like the depression people were living over their heads, and when it was time to pay their bills they were unable to. Both the Great Depression and Great Recession were brought on by bubbles, for the Great Depression it was the stock market bubble, for the Great Recession it was the housing bubble.

Ever since the Recession of 2008, the process of acquiring employment has become extremely challenging and exhausting. After months of searching, a significant amount of job seekers are willing to accept any job offers that will allow them to put food on the tables. If you follow the United States’ economic recovery, you probably know that there are about 10.5 million unemployed Americans and constant debates about how to create more jobs. What you may not know is that there are actually four million open jobs waiting to be filled. So how is it possible and who is there to blame?

On the 26th of November 2001, the National Bureau of Economic Research, declared that after ten years of economic expansion, the United States was in a recession as of March 2001 (Coplan 9). During the last quarter of 2001, the United States experienced a terrible tragedy; the 9/11 terrorist attack. However, economists believe that even if the terrorist attack had not taken place, the recession would have still been present, but it did in fact delay recovery. The recession of 2001 was by far different than all the other recessions. It was in fact, better than other recessions because the 2001 only lasted a quarter. Real GDP barley changed and the unemployment rates slightly rose (Nordhaus 2). It was found that banks have improved their performance during the recession, they were prepared for the worst this time around. During the 1990s, risk management became an important factor for banking discipline. Using risk managements, it gives the economy a potential to increase the stability. Thereby, banks benefited from an environment that rapidly declined short term interest rates, which enabled them to borrow at a lower cost (Schuermann 2). These risk managements played an important factor during the recession while impacting the United States economy in a positive manner.

Employability Skills are those elemental experience that are necessary for taking, preservation and doing better on a job. These are the attitudes with makes workers enable to get simultaneously with their colleagues and managers and to make complex decisions. Unlike work or IT knowledge are in experience instead job specific and cut across all types of work enterprises. Even though the educational stage required by some admission-level jobs may be the lowest, educational or academic skills are still important for high job outputs. Even then more necessary to job success than gaining the starting academic skills is gaining good higher-level of thinking skills.(

Various skills needed to maintain employability and navigate career changes throughout the lifespan. This includes employability skills (i.e.

The two greatest concerns (Robinson, 2000) of employers today are finding good workers and training them. The difference between the skills needed on the job and those possessed by applicants, sometimes called the skills-gap, is of real concern to human resource managers and business owners looking to hire competent employees.

For instance, one of the most well known indicators of a recession is the unemployment rate. The downturn in the business cycle of the 2007 to 2009 delineates that individuals suffered from the recession quickly and painfully. When a person becomes suddenly unemployed, he or she typically relies on savings and the government, but the government was also experiencing financial dilemmas. Additionally, studied have linked that as unemployment increases, the suicides in a country also increase (Carey, 2012). Without a job, or an opportunity to find one, hard working americans lost their ability to provide for themselves and their families. The long term unemployment rose dramatically around the year 2008, all the way to 4.4%. According to the U.S. Bureau of Labor Statistics, the long term unemployment was the highest in 2008, since 1948, and it affected different demographics with various intensities (U.S. Bureau Of Labor Statistics, 2012). For instance, the African American unemployment rate was higher than the white rate. Similarly, manufacturing and construction industries experienced the biggest increase in unemployment; “During the most recent recession... the private sector experienced a total of 235,000 establishment deaths,”(U.S. Bureau Of Labor Statistics, 2012). The economy experienced mass layoffs, “employers took 3,059 mass layoff actions in February 2009 involving 326,392 workers,