“The economy and the unemployment”

Introduction

A serious negative economic shock was experienced by the United States which is the world's largest economy in 2008 affecting the strong housing bubble due to the mortgage and credit crunch. This resulted in serious economic suffering and seriously devaluated the US dollar in the global economy. It was in August 2007 that the outlook of the 2008 economic crisis was officially set where the intervention of the central banks was observed which provided the banking system with liquidity. More than fifty financial institution and banks filed for bankruptcy after months of job losses and other problems. ...