Employment Effects Acrosss Recessionary Periods for the US, Wisconsin, and the Chippewa Valley, 1976-2009.

Abstract

Nearly all Americans have been impacted by the recent economic crisis. This includes substantial job losses resulting in rising unemployment. The most recent data shows a loss of over 650,000 jobs for the nation with the unemployment rate rising to 8.1% in February 2009. Given the severity of the current situation, many experts have begun to compare this recession to past economic downturns. Although it may be too early to suggest that we are headed toward another Great Depression, comparisons with the recession of the early 1980s could be very meaningful. Our research poster examines the current employment and unemployment trends for the US, Wisconsin and the Eau Claire Metropolitan Statistical Area (EC). We then provide a detailed comparison of these trends to the employment and unemployment figures from earlier recessions.