Word: joblessness
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Dates: during 2000-2009
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...Since the recession began in March 2001, the U.S. has lost 2.7 million jobs, many of them manufacturing jobs that are gone for good; 8.8 million people remain unemployed, 1 in 4 of them for an average of seven months. "You could say it wasn't as much a jobless recovery as it was a job-loss recovery," says Alan Blinder, a professor of economics at Princeton University and a former vice chairman of the Federal Reserve Board...
Baha Ali Abbas, 25, was jobless before the war, so he was eager to join the Facilities Protection Service, the 20,000-man Iraqi security force hurriedly set up by the U.S. to guard such sites as embassies, ministries, banks, aid offices and oil fields. When Abbas signed on in the summer, he says, "they trained us for a week in how to shoot AKs, how to talk to people properly, how to handle yourself if someone attacks you." Two months ago, a rocket-propelled grenade flew over his head and slammed into a street near the bank...
...full de-Baathification of the military was essential. In May, two weeks after Bremer took over as proconsul in Baghdad, he ordered the army completely demobilized. Many U.S. officials involved in post-Saddam Iraq now feel this was a poor decision, sending a vast number of experienced soldiers home, jobless and armed. For months the State Department and CIA have argued for remobilizing as fast as possible. But when lawmakers gathered in the secret S-407 briefing room on Capitol Hill last week to press the point on Bremer, he made it clear that recalling the soldiers...
True relief will come when the unemployment rate starts to fall. That will probably take another quarter or two, as job growth typically lags GDP expansion. So far this has been a jobless recovery. Since the recession started in March 2001, the U.S. economy has shed 2.7 million jobs. The Administration would like to hit a target set by some private-sector forecasters to create 200,000 jobs a month, but it has been wary of making its own forecasts. In recent years spikes in the growth rate have faded. Economists expect this year's fourth quarter to cool...
ACHUTHAN: There has obviously been some impact from the stimulus. But I don't know that it's had the desired effect. We have this jobless recovery, and this is not normal. You're losing jobs as the overall output is growing, in a way you've never seen before. So let's say you give tax cuts for capital investment. What is the result? You have a little bit of capital investment that increases productivity. That means that you don't have to hire someone...