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The most recent recession was milder than earlier postwar contractions, but many labor market measures did not improve until well after the official end of the downturn. This article focuses on demogr...
The year began with a weakening labor market, in which manufacturing抯 downturn spread into other sectors; unemployment climbed from the historic lows reached during the recent economic expansion.
CPS data show that the labor market weakness that began during the second half of 2007 worsened during 2008 as the U.S. economy entered a recession; unemployment rose sharply, both employment and the ...