Financialization and Unemployment. The idea of full employment, a central part of the Keynesian policy package in the post-World War II era, almost disappeared in the post-1980 era.
These recent decades have seen generally high unemployment rates, but the financial collapse of 2007-08 and the Great Recession sent unemployment rates close to 10 percent. When underemployed and discouraged workers were added to this number the figure was around 16.5 percent. Real-World Economics Review Blog. Real-World Economics Review. RMF – Research on Money and Finance.