Cornell University
Library
Cornell UniversityLibrary

eCommons

Help
Log In(current)
DigitalCollections@ILR
ILR School
  1. Home
  2. ILR School
  3. Library
  4. Catherwood Library
  5. Key Workplace Documents
  6. Federal Publications
  7. Federal Publications
  8. Economic Growth and the Unemployment Rate

Economic Growth and the Unemployment Rate

File(s)
CRS_Economic_Growth_and_the_Unemployment_Rate_0113.pdf (244.42 KB)
Permanent Link(s)
https://hdl.handle.net/1813/77662
Collections
Federal Publications
Congressional Research Service (CRS) Reports and Issue Briefs
Author
Levine, Linda
Abstract

[Excerpt] Despite the resumption of economic (output) growth in June 2009, the unemployment rate remains at an historically high level more than three years into the recovery from the 11th recession of the postwar period. Not until the fourth quarter of 2012 did the unemployment rate drop below 8%, its lowest level since January 2009. The persistently high unemployment rate is a cause of concern to Congress for a variety of reasons. Among them are the high rate’s deleterious impact on individuals’ economic well-being and the budget deficit due to lower revenue and higher expenditures. The slow rebound of the labor market has renewed calls in some quarters for measures to stimulate the economy beyond those Congress has previously enacted. From a public policy perspective, the main driver of the unemployment rate is the pace of economic growth. This report first examines the long-run relationship between the two economic variables and then narrows its focus to the periods of recovery from the postwar recessions.

Date Issued
2013-01-07
Keywords
unemployment
•
recession
•
economic growth
•
budget defecit
Related To
https://hdl.handle.net/1813/77664
Type
government record

Site Statistics | Help

About eCommons | Policies | Terms of use | Contact Us

copyright © 2002-2026 Cornell University Library | Privacy | Web Accessibility Assistance