It turns out that recent recessions, going back to the early 1990s, have been characterized by longer periods of recovery than their predecessors. First, unemployment is a lagging indicator of business activity. Chapter 1: Self-Employment Overview. %PDF-1.3 �m2hTee干��R������U�k�z�Z�w�����v���n�[����]�Cu_}�ś��}S���7�4]��N��c�M��U[0�u��}Y��u�o�߮_V�]_�U]]�\-�����V=����V��m�m�Z7m��_u}[m���2��Q-������w�z���?�/�sW-�����Z]��4 �a���:�PM0��:]V3%�l�ͦul0T�
�,�M`�o^�y��z�V�WUS-_\T�j�~�W�������>�
@����B�
���M�>֨L(�4�*z��w�S@c�TK]�YD����Ě��.__,(2h�߱�a�O����ϡ��A��!t�|� P�E���)�I jq¡ܪ�E��j�B�w�))�[�ޯ�C�T[����f�3�\!��+u����ߌϡ�s�ؚ�j_��#lF�=A&v���Aix *Đ��?A��bi:�� s�b ��`���Ͱ2�5�G���ý K�}�J=PU�~��nu����5�y���K:�#�3Z?��h�V����d��U�E�۬�9��X�TT��UQљ�s���|�]G\ϰ��wݑ��d��8R�bև Mӈ�pf��ZQ(ڢ��<
However, because of population and labor force growth, the unemployment rate at that point was still slightly above 6%. are licensed under a (Credit: modification of work by Luis Villa del Campo/Flickr Creative Commons) The Mysterious Case of the Missing Candidates. (4 4 0 obj The Self-Employment Readiness chapter asks you to think about your … It will then consider an economic explanation for unemployment, and how it explains the patterns of unemployment and suggests public policies for reducing it. When unemployment is voluntary, it means that a person has left his job willingly in search of other employment. Terms.pdf) of business planning terms for reference. %PDF-1.3 At the outset of the recession, the unemployment rate was 5.0%. How Economists Use Theories and Models to Understand Economic IssuesHow To Organize Economies: An Overview of Economic SystemsHow Individuals Make Choices Based on Their Budget ConstraintThe Production Possibilities Frontier and Social ChoicesDemand, Supply, and Equilibrium in Markets for Goods and ServicesChanges in Equilibrium Price and Quantity: The Four-Step ProcessThe Market System as an Efficient Mechanism for InformationPrice Elasticity of Demand and Price Elasticity of SupplyHow Changes in Income and Prices Affect Consumption ChoicesBehavioral Economics: An Alternative Framework for Consumer ChoiceIntroduction to Production, Costs, and Industry StructureExplicit and Implicit Costs, and Accounting and Economic ProfitHow Perfectly Competitive Firms Make Output DecisionsHow a Profit-Maximizing Monopoly Chooses Output and PriceIntroduction to Monopolistic Competition and OligopolyEnvironmental Protection and Negative ExternalitiesIntroduction to Environmental Protection and Negative ExternalitiesThe Tradeoff between Economic Output and Environmental ProtectionIntroduction to Positive Externalities and Public GoodsWages and Employment in an Imperfectly Competitive Labor MarketMarket Power on the Supply Side of Labor Markets: UnionsThe Problem of Imperfect Information and Asymmetric InformationMeasuring the Size of the Economy: Gross Domestic ProductHow Economists Define and Compute Unemployment RateWhat Causes Changes in Unemployment over the Short RunWhat Causes Changes in Unemployment over the Long RunHow the U.S. and Other Countries Experience InflationIntroduction to the International Trade and Capital FlowsTrade Balances in Historical and International ContextThe Difference between Level of Trade and the Trade BalanceIntroduction to the Aggregate SupplyâAggregate Demand ModelBuilding a Model of Aggregate Demand and Aggregate SupplyHow the AD/AS Model Incorporates Growth, Unemployment, and InflationThe Policy Implications of the Neoclassical PerspectiveIntroduction to Monetary Policy and Bank RegulationThe Federal Reserve Banking System and Central BanksIntroduction to Exchange Rates and International Capital FlowsDemand and Supply Shifts in Foreign Exchange MarketsIntroduction to Government Budgets and Fiscal PolicyUsing Fiscal Policy to Fight Recession, Unemployment, and InflationPractical Problems with Discretionary Fiscal PolicyIntroduction to the Impacts of Government BorrowingHow Government Borrowing Affects Investment and the Trade BalanceIntroduction to Macroeconomic Policy around the WorldThe Diversity of Countries and Economies across the WorldCauses of Inflation in Various Countries and RegionsWhat Happens When a Country Has an Absolute Advantage in All GoodsThe Benefits of Reducing Barriers to International TradeProtectionism: An Indirect Subsidy from Consumers to ProducersInternational Trade and Its Effects on Jobs, Wages, and Working ConditionsHow Governments Enact Trade Policy: Globally, Regionally, and NationallyBorders was one of the many companies unable to recover from the 2008-2009 economic recession.