How did the Great Recession affect unemployment?

What were the main causes of the Great Recession?

The Great Recession was primarily caused by the housing market collapse, risky financial practices, and high levels of debt.

How did unemployment rates change during the Great Recession?

Unemployment rates soared during the Great Recession, peaking at around 10% in 2009, significantly affecting millions.

Which sectors were most impacted by rising unemployment?

The construction, manufacturing, and retail sectors were among the hardest hit, experiencing massive job losses.

What measures were taken to combat unemployment during that time?

Governments implemented stimulus packages, extended unemployment benefits, and created job training programs to help those affected.

Are there any long-term effects of the Great Recession on employment?

Yes, many workers faced long-term unemployment, and some industries took years to recover, affecting wage growth and job security.