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During the Great Recession that began in 2008, millions of people lost their jobs. How would people in programs like workfare be affected by a high unemployment rate among the general working population?

Sagot :

francocanacari

Answer:

The Great Recession of 2008 was a time of global economic downturn. The International Monetary Fund has concluded that it was the worst economic and financial crisis since the 1929 global economic downturn and is considered the second worst recession of all time. It came from the collapse of the United States real estate market in the wake of the 2007 crisis and the mortgage crisis. The Great Recession resulted in a lack of valuable resources and the collapse of the global financial system.

During this event, the number of people in government employment programs multiplied by the millions. This was so because many people lost their jobs, and looked to the government for an alternative to survive. But, in turn, the government was overwhelmed by the enormous amount of public spending on the matter, which caused these systems to collapse and literally millions of people without income.

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