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2ND GREAT REPUBLICAN DEPRESSION
U.S. Experiencing Worst Episode of Prolonged Unemployment Since Great Depression. Adjusting for demographic factors, current labor market downturn steeper than ’82-’83 recession. The severity of the current unemployment situation suggests that policy makers should consider measures that would slow or reverse this trend. Additional stimulus such as work sharing or the extension of unemployment benefits by Congress would go far in addressing the plight of the millions of unemployed Americans suffering as a result of this downturn.
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