Unemployment, Inflation, Cyclical Instability, or Aggregate Demand Name: Institution: Date: The 2008-2009 great recession and its effects was evident in the economy. It had a lot of negative effects, but one positive aspect is that it created interest in the economy. It also brought a new outlook to the unemployment problem (Schiller, Hill, & Wall, 2013). This meant new ways of teaching economics and interpreting economic information. The new approaches are used in interpretation of the effects of the great recession and this provides a guide to the summary of the International Labour Organization report (Schiller, Hill, & Wall, 2013).