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Green Economic Recovery Program Impact on North Carolina
Part of a National Program to Create Good Jobs and Start Building a Low-Carbon Economy
- by Robert Pollin, Heidi Garrett-Peltier, James Heintz, and Helen Scharber
For the past year, the U.S. economy suffered through a serious economic slowdown caused by the collapse of hte housing market bubble, the destabilizing effects of hte housing implosion on financial markets, and the sharp rise in oil prices. The resulting increase in unemployment - reaching 5.7 percent in July 2008 - is in fact even worse when taking into account a labor market where people are working fewer hours than they wish, taking pay cuts, or becoming discouraged from looking for work.