The Labor Force and the Great Recession

Michael Hout, Erin Cumberworth

Research output: Chapter in Book/Report/Conference proceedingChapter


Americans work for their living. For most of them, having a job is an economic and moral imperative. The wages they earn fuel the rest of the economy. Employment begets the spending that begets more employment. In good times, it is a virtuous cycle reinforcing consumer-driven capitalism. Events like the financial crisis of 2007 and 2008 reverse the cycle, spinning the economy downward with a momentum that can be hard to break. Job losses reduce spending, which kills more jobs, reducing spending even more.

Original languageEnglish (US)
Title of host publicationSocial Stratification
Subtitle of host publicationClass, Race, and Gender in Sociological Perspective
PublisherTaylor and Francis
Number of pages7
ISBN (Electronic)9780429963193
ISBN (Print)9780429494642
StatePublished - Jan 1 2018

ASJC Scopus subject areas

  • General Social Sciences


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