Presenter Information

Todd Cheney, University of Wyoming

Department

Economics and Finance

First Advisor

Jeremy Weaver

Description

The continual debate between inflation and unemployment has left many important governmental institutions and numerous politicians at a crossroads. The world of unemployment post-2008 Financial Crisis has been an increasingly volatile one. An in-depth study of national unemployment will reveal whether this trend will continue or whether the economy will witness a quick recovery. This analysis of the U.S. unemployment rate will include: the unemployment rate in a historical context, the 2008 Financial Crisis, the Economic Stimulus Bill proposed by the Obama Administration and approved by Congress in February of 2009, the extension of the Bush Administration tax cuts by President Obama in December of 2010, and other necessary concepts and events that relate to unemployment. Empirical evidence and theoretical explanations will aid in reaching the conclusions about the present and future of unemployment in America. While the majority of research reveals that unemployment should remain high for a longer duration than in recent recessions, it comes with the realization that the actual unemployment rate does not always follow forecasts. The coming period will not only show the resiliency of the American economy, but will perhaps redefine the process of determining future unemployment for decades to come.

Comments

Oral Presentation, UW Honors Program

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Unemployment Post-2008 Financial Crisis: The American Expedition

The continual debate between inflation and unemployment has left many important governmental institutions and numerous politicians at a crossroads. The world of unemployment post-2008 Financial Crisis has been an increasingly volatile one. An in-depth study of national unemployment will reveal whether this trend will continue or whether the economy will witness a quick recovery. This analysis of the U.S. unemployment rate will include: the unemployment rate in a historical context, the 2008 Financial Crisis, the Economic Stimulus Bill proposed by the Obama Administration and approved by Congress in February of 2009, the extension of the Bush Administration tax cuts by President Obama in December of 2010, and other necessary concepts and events that relate to unemployment. Empirical evidence and theoretical explanations will aid in reaching the conclusions about the present and future of unemployment in America. While the majority of research reveals that unemployment should remain high for a longer duration than in recent recessions, it comes with the realization that the actual unemployment rate does not always follow forecasts. The coming period will not only show the resiliency of the American economy, but will perhaps redefine the process of determining future unemployment for decades to come.