Recent Employment Data for the US

Date Added: July 27, 2009 09:30:09 PM

Author: Roger

ArticleDespite talks about economic recovery, unemployment rate is still growing in the US. This situation could weaken the Democrats position. Although economic fall is reported to slow, the unemplyment rate is expected to rise and exceed 10% within the year of 2009. Growing poverty and skimpy economic improvement could provide even more ground for accusing Barack obama and parliamentarian Democrats of abuse of public funds. If the situation persists, the government which has been justifying its expenditure by the attempts to produce new working places and improve the economic situation, will endure difficult times, especially during the midterm elections of November 2010. The economic policy of The president supposes the investment of 787 billion dollars in renewable energy, health care, education and vocational training. The government affirms that this step will help to make the thriftiness stable and create jobs. 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-crisis 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 contend that the rate of structural unemployment will entail tremendous damage to many communities and verbalised his astonishment with the relaxed standing of American citizens. According to statistics, since December 2007 the quantity of jobs in the U.S. Has reduced by nearly 5.7 mln. Although recent months saw a slight improvement of the employment situation and rise in expenditure, the situation remains unchanged, and the number of jobs still is getting reduced. Making things worse, American companies spare no efforts to re-hire workers and present technological advances into production, thus making their employees redundant. Moreover, the economic fall almost destroyed the economic sector and the automotive industry. Even government intervention fails to restore nany of the jobs in these sectors. "The rate of unemployment has not reached its peak, it will be durable," forecasts Mishel. The political debate appears to indicate that the crisis is over, but we still need to discuss ways out of the real crisis, i.e. to recreate jobs."

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