When jobs disappear. (journal article)
from Economist, 3/14/2009, Vol. 390 Issue 8622, p71-73
Abstract: This article discusses the problem of rising unemployment around the world. The downturn in hiring during the recession that began in 2007 is compared with those of six other economic downturns that have occurred since 1945. The challenges posed to economic adaptation by the rigidities of the social safety nets established by the welfare state and constraints on geographic mobility associated with the housing market are described.