The Effect of a Weakening Economy on the Job Market

In the latter half of 2008 Wall Street and the banking system were undergoing major changes. I remember hearing the stress in people’s voices when I spoke to them in New York, and I believed we had reached a sea change of sorts, in the way the job market and the economy were about to shift. The economy was clearly in very serious trouble. After 9/11, the Federal Reserve lowered interest rates, which stimulated many housing purchases across the land, allowed for the refinancing of homes, and put a lot of money into the economy. This was [Read more]