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The United States entered a recession in 1990, which lasted 8 months through March 1991. [ 1] Although the recession was mild relative to other post-war recessions, [ 2] it was characterized by a sluggish employment recovery, most commonly referred to as a jobless recovery.
Workers' compensation or workers' comp is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence. The trade-off between assured, limited coverage and lack of ...
Research indicates recovery from financial crises can be protracted relative to typical recessions, with lengthy periods of high unemployment and substandard economic growth. [73] [74] Compared against combined financial crises and recessions in other countries, the U.S. employment recovery following the 2007–2009 recession was relatively ...
In March 2020, Trump signed into law a $2.2 trillion economic stimulus package, including direct payments of $1,200 and expanded unemployment insurance, among other measures.
A jobless recovery or jobless growth is an economic phenomenon in which a macroeconomy experiences growth while maintaining or decreasing its level of employment. The term was coined by the economist Nick Perna in the early 1990s.
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an ...
An economic recovery is the phase of the business cycle following a recession. The overall business outlook for an industry looks optimistic during the economic recovery phase. During the recovery period, the economy goes through a process of economic adaptation and change to new circumstances, including the reasons that caused the recession in ...
The term job lock is used to describe the inability of an employee to freely leave a job because doing so will result in the loss of employee benefits (usually health or retirement related). In a broader sense, job lock may describe the situation where an employee is being paid higher than scale or has accumulated significant benefits, so that ...