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...records following the 1982 recession and determined that earnings losses for folks laid off amid a downturn are not only high but very long lasting. Upon getting new jobs, they took, on average, annual pay cuts of 25% to 30% and even 15 to 20 years later were earning around 20% less. Why? What can happen is that workers often cannot find another job in their same industry. If a worker had accumulated skills that were specific to that industry, then can't find a job in that industry, those skills lose their value. So that may knock down workers...
...also followed a large group of Canadian college students and found that those who graduated during a recession initially suffered significant earnings losses, around 10%, and it took eight to 10 years for that effect to fade. Why do they take such a big hit and for so long? In a recession, well-paying firms and industries hire fewer workers, so college graduates have to take jobs with less attractive firms. Graduates can recover by finding a new job at a better-paying firm, but that process can take a long time. Some workers never actually recover. Those who graduated...
...years of the occupation: a light footprint of several thousand U.S. soldiers who were confined to counterterrorism missions. That approach helped foster the resurgence of the Taliban, which continues to receive material support from elements in Pakistan. If a pared-down counterterrorism strategy works no better the second time around, will we have to invade Afghanistan all over again in the event of a spectacular Taliban comeback...
...photo, framed it, and titled it Spiritual America. And though it hasn't been censored before, it's not the first time it has stirred controversy. As an adult, Shield went to court to try to block further use of the photo but lost. It has since been reprinted around the world and is widely available on the Internet. (Read TIME's 1981 cover story on Brooke Shields...
...street from the WFP office - as well as the elaborate security measures that were put in place after last year's devastating bombing of the Marriott Hotel in Islamabad, which killed 60 people. Security officials installed high blast walls, thick iron gates and a fence topped with razor wire around the WFP building. Barriers were also set up at both ends of the street and manned with armed guards...