Economy

Chad Stone on the December Employment Report

The December jobs report shows a labor market that strengthened significantly in 2014, but one that still bears scars from the Great Recession and subsequent federal budget cuts and other austerity policies that perpetuated a severe jobs slump even as the economy and business profits began to recover.

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Basics

A recession is a significant decline in the size of the U.S. economy lasting more than a few months, normally visible in a variety of economic indicators.   Economic stimulus policies aim to avert a recession or lessen its severity by boosting the economy in the short term.  The unemployment insurance system helps people who have lost their jobs by temporarily replacing part of their wages, typically for up to 26 weeks. 

Policy Basics:
- Introduction to Unemployment Insurance
- How Many Weeks of Unemployment Compensation Are Available?

Chart Book:
- The Legacy of the Great Recession

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The Center examines the impact of changes in the economy on federal and state budgets, as well as the likely effectiveness of economic stimulus proposals. We also examine trends in employment and promote reforms to strengthen the unemployment insurance system.

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