job loss

Job losses caused by the Great Recession refers to jobs that have been lost worldwide within people since the start of the Great Recession. In the US, job losses have been going on since December 2007, and it accelerated drastically starting in September 2008 following the bankruptcy of Lehman Brothers. By February 2010, the American economy was reported to be more shaky than the economy of Canada. Many service industries (particularly in countries that either have the same unemployment rate as the United States or greater) have reported dropping their prices in order to maximize profit margins (looking to make use of any price elasticity of demand in their market segments). This is an era in which employment is becoming unstable, and in which being either underemployed or unemployed is a common part of life for many people.

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