Changes

Major export countries saw their markets shrink. Exports from Japan were down 41% (quarter one 2009 versus 2008), Germany 32%, China 20% and U.S. 22%.

Major export countries saw their markets shrink. Exports from Japan were down 41% (quarter one 2009 versus 2008), Germany 32%, China 20% and U.S. 22%.

Major  countries began experimenting again with Keynesian stimulus packages, including the US ($787 billion), Europe (EU, $634 billion), China ($586 billion), and Japan ($486 billion), but no positive results were reported<ref>http://online.wsj.com/article/SB10001424052748704476104575439172480870774.html?mod=googlenews_wsj Jobless Claims Jump in New Sign Recovery Is Sputtering,] ''Wall Street Journal, August 20, 2010. </ref><ref>[http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data_tool=latest_numbers&series_id=LNS11300000&years_option=specific_years&include_graphs=true&to_month=1&from_month=2 United States Department of Labor], Bureau of Labor Statistics. Data extracted on: July 19, 2010 (4:31:11 PM).</ref>  Central banks (such as the Federal Reserve in the U.S.) cut interest rates to nearly zero for half a decade, but few businesses borrowed money to expand employment or meet current operating expenses.

Major  countries began experimenting again with Keynesian stimulus packages, including the US ($787 billion), Europe (EU, $634 billion), China ($586 billion), and Japan ($486 billion), but no positive results were reported<ref>[http://online.wsj.com/article/SB10001424052748704476104575439172480870774.html?mod=googlenews_wsj Jobless Claims Jump in New Sign Recovery Is Sputtering,] ''Wall Street Journal, August 20, 2010. </ref><ref>[http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data_tool=latest_numbers&series_id=LNS11300000&years_option=specific_years&include_graphs=true&to_month=1&from_month=2 United States Department of Labor], Bureau of Labor Statistics. Data extracted on: July 19, 2010 (4:31:11 PM).</ref>  Central banks (such as the Federal Reserve in the U.S.) cut interest rates to nearly zero for half a decade, but few businesses borrowed money to expand employment or meet current operating expenses.

By September 2012 when job growth still lagged by 4 million people, economists Garett Jones and Daniel Rothschild wrote,

By September 2012 when job growth still lagged by 4 million people, economists Garett Jones and Daniel Rothschild wrote,