Sponsor LinksContact us for sponsor link$10.00 per month.
About Us
| Articles
| Recent Employment Data for the US | | Date Added: August 02, 2009 07:43:07 AM |
| Despite talks about growth of the economic situation, unemployment figures are still growing in the USA. This trend could shake the Democrats reputation.
Although economic decline seems to unbend, the unemployment is expected to increase and exceed 10% during a year. Growing poverty and scarce economic growth might give even more grounds for blaming Obama and parliamentarian Democrats for misuse of public funds. If the situation remains without changes, the government which has been justifying its expenditure by the attempts to make new working positions and improve the economics, will have difficult times, especially during the midterm elections of November 2010.
The economic policy of The president entails the investment of 787 bln dollars in renewable energy, healthcare, education and vocational training. The government alleges that this measure will help to make the saving stable and create working positions. This optimistic vision, however, is not shared by financial gurus. By their estimates, the unemployment is going to exceed 10% in 2010, and its return to the pre-deterioration level (about 5%) can be anticipated not sooner than in few years. The anticipated development of the employment situation is going to gravely affect children, unskilled workers, immigrants, African and Latin Americans.
Lawrence Mishel, president of the Economic Policy Institute, is reported to allege that the rate of structural unemployment will entail tremendous damage to many communities and verbalised his surprise with the carefree reaction of American citizens. According to statistics, since December 2007 the number of jobs in the U.S. Has reduced by nearly 5.7 mln. Although recent months showed a slight growth of the employment situation and increase of expenditure, the tendency goes on, and the number of jobs still is getting reduced.
Making things worse, American companies spare no efforts to re-hire workers and present modern technologies into production, thus making their employees redundant. Moreover, the economic deterioration almost destroyed the financial sector and the automotive industry. Even government intervention is unable to recreate nany of the jobs in these sectors.
"The rate of unemployment has not reached its critical point, it will last practically yearner," augurs Mishel. The political debate appears to suggest that the recession is behind us, but we still need to discuss ways out of the actual crisis, i.e. to recreate jobs." |
|
