Monday, October 06, 2014
Tweet[IWS] BLS: CONSUMER SPENDING AND U.S. EMPLOYMENT FROM THE 2007-2009 RECESSION THORUGH 2022 [3 October 2014]
IWS Documented News Service
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Institute for Workplace Studies-----------------Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor--------------------Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
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MONTHLY LABOR REVIEW
CONSUMER SPENDING AND U.S. EMPLOYMENT FROM THE 2007-2009 RECESSION THORUGH 2022 [3 October 2014]
or
[full-text, 36 pages]
In the latest recession, employment supported by U.S. consumer spending declined by an estimated 3.2 million jobs between 2007 and 2010, over a third of total job declines during that time frame. Compared with the overall economy, consumer-related employment demonstrated relative resilience, recovering in 2012. Through 2022, consumer spending is projected to support stable job growth with increasing expenditures on labor-intensive services like health care. However, consumer spending and its related employment are projected to grow slower than in the past and at rates similar to the overall economy
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