... accounted for a relatively large share of the employment reductions, more so than previous recessions. Levels decreased form July 1989 to June 1992 by a total of 22.5 percent. The magnitude of this drop was twice that of the average decrease. About one year before the start of the recession an about ½ year ... before the contraction, the number of discouraged workers began to increase. In ... before a recession was announced. Since March 2001 1.5 million jobs have been eliminated. Even before the layoffs began, corporate profits began a descent of record proportions. Many jobs were no...

• Word Count: 3070
• Approx Pages: 12
• Grade Level: High School