Full Citation

Title: Job Loss and Unemployment

Citation Type: Book, Section

Publication Year: 2011

ISBN: 1610447506, 9781610447508

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Abstract: Americans work for their living. Having a job is an economic and moral imperative for most Americans. The wages they earn fuel the rest of the economy. Employment begets the spending that begets more employment. In good times, it is a virtuous cycle reinforcing consumer-driven capitalism. Events like the financial crisis of 2007 and 2008 reverse the cycle, spinning the economy downward with a momentum that can be hard to break. Job losses reduce spending, which kills more jobs, reducing spending even more.

Url: https://books.google.com/books?id=vacp4DtnTkYC&q=ipums#v=onepage&q=ruggles&f=false

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Authors: Hout, Michael; Levanon, Asaf; Cumberworth, Erin

Editors: Grusky, David, B; Western, Bruce; Wimer, Christopher

Pages: 59-81

Volume Title: The Great Recession

Publisher: Russell Sage Foundation

Publisher Location: New York City, NY, USA

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Data Collections: IPUMS CPS

Topics: Labor Force and Occupational Structure, Other

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