Many lawmakers, policymakers, and economic commentators do not appear to recognize the depth of the current labor-market recession. Between December 2007 – the official first month of the recession – and December 2009, the U.S. economy lost more than eight million jobs. Even if the economy...

The strong rise in the U.S. stock market since the spring and the return to positive economic growth in the third quarter of this year have created a consensus among economists that the Great Recession is very likely over. Unfortunately, the end of the official recession will have little visible...

This paper updates Ronald Reagan's famous question during the 1980 presidential election: "Are you better off now than you were four years ago?" by comparing the state of the economy in 2000 and 2008. We use 25 indicators of economic well-being and economic performance and find that 23 of the 25...

This report uses the past three recessions of the early 1980s, early 1990s and early 2000s to project the effects of a recession in 2008. The report finds that such a recession would result in a significant rise in unemployment and the poverty rate along with a significant decrease in the...

This report presents several proposals designed to address the nation’s current economic slowdown. To blunt the effects of this downturn and provide immediate relief, the authors suggest a second stimulus package. Proposals for the package include an expanded tax credit for homes and...

This paper reviews the recent labor-market performance of 21 rich countries, with a focus on Denmark and Germany. Denmark, which was widely seen as one of the world's most successful labor markets before the downturn, has struggled in recent years. Germany, however, has outperformed the rest of...

There are many economists who argue that temporary tax cuts, like those in the 2009 stimulus and the ones proposed by President Obama last week, have no impact on the economy. They argue that people will save a temporary tax credit rather than spend it. Stanford Economics Professor John Taylor,...

This policy proposal outlines a substantial economic stimulus package needed to address the recent downturn in the U.S. economy. This stimulus package details steps to create jobs, provide economic support and lessen the effects of a weakening economy.

The unemployment rate is expected to average 10.2 percent for 2010, 9.1 percent for 2011, and 7.3 percent for 2012. With this in mind, this Issue Brief describes a job sharing tax credit, designed to provide a quick and substantial boost to the economy. It would use tax dollars to pay firms to...

This paper looks at the problem of state budget shortfalls during the recession and calculates the number of jobs that would be lost (nationally and by state) if states utilize pro-cyclical spending cuts in an attempt to balance their budgets. This is an update to an earlier paper from December...