The Current Great Recession - Who Is To Blame

During the current economic downturn, known as Great Depression, it is natural to look for a single entity or individual. All major banks, professional investors and administrators of federal regulatory authorities are all designated as potential creators of economic downturn and have varying degrees of guilt. Regardless of who should be blamed, the impact of the mistake that led to the current crisis is obvious. According to the US Bureau of Labor Statistics, the current unemployment rate is 7%, 3 million Americans are unemployed (Labor Statistics Bureau).

Overall, the US economy recovered from the Great Depression that officially began ten years ago in December 2007. The current 4% unemployment rate is lower than the unemployment rate before the recession starts. Economy is better than that (although there are many populations). But for some people the recession and its consequences are infinite, and the most disappointed is the family like Santilan who lost work and home. Understanding what these families have experienced and why that is so avoidant is the key to assessing the economic risk the country faces. Despite the overall economic situation, the Great Depression still plagues American families. When the next economic crisis occurs, losses may become even more serious. Mr. Mark Zandy, Chief Economist at Moody's Analytics, said:

Some of the leftists accused the influence of the Council's budget and the Great Depression on the success of the National Popularists. However, most of the current generation political parties, including the most stable and highly developed economies in Western countries, began to climb in the 1980s. Austria and the Netherlands right-wing popular freedom party have the lowest unemployment rate and the highest standard of living on the European continent, joining the ruling coalition in 2000 and 2002, respectively, it was a great success.

In this article we used the current census data to examine the situation in the US labor market 10 years after the Great Depression in 2007-09. As of December 2017, the unemployment rate of all age groups, gender, major ethnic groups, and ethnic groups has returned to the lowest level of sluggishness and reached educational standards. However, during this recovery period long-term unemployment and involuntary part-time work still exist, but the long-term decline in labor participation continues.