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The Lessons Learned From the Great Recession
During major economic downturns and pandemics, many individuals lose their jobs at once, causing a surge in claims for unemployment insurance (UI), which can overload the system and frustrate those seeking assistance./nThere is a recurring cycle of recession and recovery in the economy, but there is not enough focus on preparing for the next downturn by investing in UI systems and staff./nInvesting in UI systems during a downturn is not enough, and a different approach to modernization, process simplification, and goal-driven modernization is necessary./nGovernment systems and software used by banks can become complicated and difficult to manage as they grow through acquisitions, and there may come a point where starting from scratch is the best option.