Less-Educated Workers in a Skills-Based Economy: Can the Gap be Bridged?

2012 ◽  
Vol 43 (3) ◽  
pp. 13-24
Author(s):  
A. Bentley Hankins
Keyword(s):  
Great Recession ◽  
Rehabilitation Counselors ◽  
Economic Downturn ◽  
Structural Factors ◽  
Functional Skills ◽  
Structural Unemployment ◽  
The Great Recession ◽  
Practice Recommendations ◽  
Successful Work ◽  
Policy Proposals

With our national discourse focused on the lingering joblessness caused by the Great Recession, there is much debate as to whether our economic recovery is being hindered by cyclical or structural unemployment. The general consensus is that cyclicalfactors are the primary determinants of our labor surplus. However, many are concerned that structural factors, such as skills mismatches, are also contributing to our stagnant economy. Either way, it appears that less-educated workers have been the hardest hit by our economic downturn. Though disconcerting, this is not surprising as less-educated workers often lack the adaptability necessary to make a successful work adjustment. In this article, the predicament less-educated workers are currently facing is examined from a person-environment correspondence perspective. The increased importance of possessing adaptive and functional skills in an unstable labor market is also discussed. Finally, policy proposals for rehabilitation leaders and practice recommendations for rehabilitation counselors are presented.

The Great Depression and the Great Recession in Interwar Greece and Today: A comparison

2015 ◽  
Vol 66 (2) ◽  
Author(s):  
Sophia Lazaretou
Keyword(s):  
Great Recession ◽  
Empirical Studies ◽  
Economic Downturn ◽  
The Great Recession ◽  
The Past ◽  
Greek Crisis ◽  
The Great Depression ◽  
Terra Incognita ◽  
Cross Country ◽  
Nominal Anchor

AbstractThe past Greek crisis experience is more or less terra incognita. In all historical empirical studies Greece is systematically neglected or included only sporadically in their cross-country samples. In the national literature too there is little on this topic. In this paper we use the 1930s crisis as a useful testing ground to compare the two crises episodes, ‘then’ and ‘now’; to detect differences and similarities and discuss the policy facts with the ultimate aim to draw some ‘policy lessons’ from history. To the best of our knowledge, this is the first attempt to study the Greek crisis experience across the two historical episodes. Comparisons with the interwar period show that the recent economic downturn was faster, larger and more severe than during the early 1930s. More importantly, analysing the determinants of the two crises, we conclude that Greece’s problems arose from its inability to credibly adhere to a nominal anchor.

scholarly journals Social origins and the decision to leave university during the Great recession: the role of the field of study

2020 ◽  
Author(s):  
Loris Vergolini ◽  
Eleonora Vlach
Keyword(s):  
University Students ◽  
Economic Crisis ◽  
Great Recession ◽  
Social Inequalities ◽  
Drop Out ◽  
Economic Downturn ◽  
Long Term Effects ◽  
Field Of Study ◽  
The Great Recession ◽  
Drop Out Rate

The recent economic downturn has had profound influences on contemporary European societies. This paper analyzes how the Great Recession affected the drop-out rate among university students in Italy, and whether their chosen field of study moderated its effect. To examine the potential long-term effects of this economic downturn on social inequality, we also explore whether students from less-advantaged families who enrolled in prestigious fields were those pushed out from university in disproportionally high numbers. We investigate the interacting influence of the economic crisis, social inequalities and field of study on drop-out rate using data from the Istat “Survey on the educational and occupational paths of high school graduates” in two cohorts of university students (one who attended university prior to and one during the Great Recession). Results obtained from propensity score matching show that the economic crisis had a negative effect on university participation, which was however less strong for Medicine students. Students from lower socio-economic backgrounds in the most remunerative fields of study (those leading to liberal professions), tended to leave university more often than their well-off peers.

scholarly journals The Differential Incidence and Severity of Food Insecurity by Racial, Ethnic, and Immigrant Groups over the Great Recession in the United States

2018 ◽  
Vol 108 ◽  
pp. 379-383 ◽  
Author(s):  
Alfonso Flores-Lagunes ◽  
Hugo B. Jales ◽  
Judith Liu ◽  
Norbert L. Wilson
Keyword(s):  
Food Insecurity ◽  
Great Recession ◽  
Decomposition Analysis ◽  
The United States ◽  
Structural Factors ◽  
Immigrant Status ◽  
The Great Recession ◽  
Extensive And Intensive Margins ◽  
Race Ethnicity ◽  
Racial Ethnic

We document the differences in food insecurity incidence and severity by race/ethnicity and immigrant status over the Great Recession. We show that the disadvantaged groups with a higher incidence of food insecurity do not necessarily have a higher severity of food insecurity, which underscores the importance of examining both the extensive and intensive margins of food insecurity. Our decomposition analysis indicates that the contribution of compositional and structural factors to the observed differences in exposure to food insecurity is heterogeneous across these groups and over the Great Recession. Finally, SNAP does not seem to fundamentally change the patterns documented.

Failing the Test? The Flexible U.S. Job Market in the Great Recession

2013 ◽  
Vol 650 (1) ◽  
pp. 78-97 ◽  
Author(s):  
Richard B. Freeman
Keyword(s):  
Great Recession ◽  
Full Employment ◽  
Economic Downturn ◽  
Job Market ◽  
The Great Recession ◽  
Duration Of Unemployment ◽  
Market Driven ◽  
Labor Institutions ◽  
The U.S ◽  
American Labor

The Great Recession tested the ability of the “great U.S. jobs machine” to limit the severity of unemployment in a major economic downturn and to restore full employment quickly afterward. In the crisis the American labor market failed to live up to expectations. The level and duration of unemployment increased substantially in the downturn, and the growth of jobs was slow and anemic in the recovery. This article documents these failures and their consequences for workers. The U.S. performance in the Great Recession contravenes conventional views of the virtues of market-driven flexibility compared to institution-driven labor adjustments and the notion that weak labor institutions and greater market flexibility offer the best road to economic success in a modern capitalist economy.

Factors Associated With Hiring and Firing Financial Advisors During the Great Recession

2019 ◽  
Vol 30 (2) ◽  
pp. 289-303
Author(s):  
Yuanshan Cheng ◽  
Charlene M. Kalenkoski ◽  
Philip Gibson
Keyword(s):  
Great Recession ◽  
Financial Services ◽  
Significant Loss ◽  
Economic Downturn ◽  
Financial Advisors ◽  
Net Worth ◽  
The Great Recession ◽  
Financial Advisor ◽  
Client Relationship ◽  
Hiring And Firing

From 2007 to 2009, the U.S. economy went through a deep economic downturn which is popularly known as the Great Recession. It resulted in a significant loss of wealth for many investors. While some investors sought the advice of financial advisors; others did not. This study examines the economic situation of households using the National Longitudinal Survey of Youth (NLSY) and analyzes the financial advisor–client relationship during the Great Recession to determine who fired or hired a financial advisor during this period. The results indicate that losing money, measured by a decrease net worth, was not the main reason why clients fired their financial advisor during the Great Recession. Interestingly, the results also show that experiencing a decrease in net worth was not the main reason why individuals pursued the services of a financial adviser during this period. Instead, current income and an increase in income were the primary factors that impacted the client–advisor relationship during the financial crisis. These results are consistent with consumer demand theory in which financial services are a normal good that people purchase less of when their income falls.

USA Child Poverty: The Impact of the Great Recession

2017 ◽  
Author(s):  
Christopher Wimer ◽  
Timothy M. Smeeding
Keyword(s):  
Great Recession ◽  
Child Poverty ◽  
Safety Net ◽  
Economic Downturn ◽  
Median Income ◽  
Relative Poverty ◽  
Poverty Measure ◽  
The Great Recession ◽  
The Usa ◽  
The Impact

The Great Recession (GR) was the most dramatic economic downturn the USA has experienced in more than six decades. But against this backdrop, the USA actually made some limited progress against child poverty over the Great Recession when one considers the new US Supplemental Poverty Measure which lies at about 40 per cent of median income. The main reason was the growth of a well-targeted near cash safety net, combined with earnings enhancements in the form of refundable tax credits. These enhancements helped the working poor, but not many parents of children who could not find jobs. However these improvements had little if any effect on relative poverty counted at a European or cross-national relative poverty standard set at 60 per cent of median income. Greater progress against child poverty in the US requires a continued strong job market coupled with a child allowance.

The Great Recession, Inequality, and Health: An Integrative Approach

2018 ◽  
pp. 498-512
Author(s):  
Julie A. Kirsch ◽  
Carol D. Ryff
Keyword(s):  
United States ◽  
Great Recession ◽  
The United States ◽  
Integrative Approach ◽  
Economic Downturn ◽  
The Great Recession ◽  
Psychological Influences ◽  
Historically Situated ◽  
Using Data ◽  
Advance Knowledge

Biopsychosocial integration requires attentiveness to changing historical contexts. The Great Recession of 2007–2009 is regarded as the most severe economic downturn since the 1930s and has contributed to the growing American problem of inequality. To advance knowledge of the human consequences of the Great Recession and growing inequalities, integrative approaches are needed. This chapter summarizes conceptual frameworks that address the ways the Great Recession has exacerbated US problems of inequality and for whom. In light of these frameworks and using data from the Midlife in the United States (MIDUS) baseline and Refresher samples, a historically situated inquiry into whether life in America looks worse in the Great Recession aftermath is presented. Findings on inequality in recession hardships, health vulnerabilities, and psychological influences are reviewed. The chapter concludes with a discussion of additional domains of assessment about Great Recession impacts that can be pursued with MIDUS.

scholarly journals Double down: economic downturn and increased competition impacts on casino gaming and employment

2020 ◽  
Vol 34 (1) ◽  
pp. 105-124
Author(s):  
Byron Marlowe ◽  
Tianshu Zheng ◽  
John Farrish ◽  
Jesus Bravo ◽  
Victor Pimentel
Keyword(s):  
Great Recession ◽  
Design Methodology ◽  
Economic Downturn ◽  
Intervention Analysis ◽  
Social Scientists ◽  
Content Type ◽  
The Great Recession ◽  
Casino Gaming ◽  
Economic Downturns ◽  
The Us

PurposeThe purpose of this study was to create a more balanced, comprehensive and valid illustration of the relationships between casino gaming volume and employment during economic downturns in urban and rural locations in nondestination gaming states.Design/methodology/approachThis study analyzes gaming volumes and employment prior, during and after the recession of 2007–2009, using a time series with intervention analysis on a monthly coin in, table drop and regression analysis on employment impacts of casinos.FindingsFindings indicate that while there was a slight drop in gaming revenue and employment figures during the economic downturn, nondestination gaming locations such as Indiana proved relatively resilient to an economic downturn.Originality/valueThe Great Recession had no significant impact on gaming volume because gamblers chose to spend their more limited entertainment dollars on less expensive gaming options; in other words, casinos closer to home requiring the expenditure of fewer dollars on travel and/or hotel rooms. The current pandemic and pressures of the macro-environment again threaten the US gaming and casino market with an economic downturn and the results of this study are as timely as ever for hospitality professionals and social scientists to understand the behavior of casinos in recessionary environments.

scholarly journals The Well-Being Gap during the Great Recession: The Role of Growth and Institutions

2020 ◽  
Vol 12 (2) ◽  
pp. 24
Author(s):  
Marco Ciziceno ◽  
Pietro Pizzuto
Keyword(s):  
Low Income ◽  
Great Recession ◽  
Potential Role ◽  
Well Being ◽  
European Countries ◽  
Economic Downturn ◽  
Subjective Well Being ◽  
Negative Effects ◽  
The Great Recession

The purpose of this paper is to examine the well-being dynamics across European countries during the Great Recession and to investigate the potential role of the quality of formal institutions in mitigating the negative effect of the economic downturn. This study uses the club convergence methodology by Phillips and Sul (2007; 2009) to group EU-28 countries that present similar features in terms of well-being during the period 2005-2017. The study also applies probit models to investigate the potential role of several social and institutional characteristics that are supposed to affect subjective well-being levels. The results show the existence of a “well-being gap” among European countries. The economic downturn started in 2008 has impacted the perceived well-being more in low-income and low-growth countries (less developed transition and Southern countries), than in high-income and more developed transition countries. The study also shows that countries that present well-functioning institutional systems and, more in general, good institutional performances show higher life satisfaction levels and tend to be more resilient to the negative effects generated by the economic shock.

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