This is bad news. The economy is a mess, and monthly economic reports that do not meet economist expectations imply the worse is yet to come.
BTW: Following some Intrade prices will show how the market reacts to this information
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742,000 jobs lost over the period of one month. In a quarterly report how high is the unemployment rate going to hike. Is there going to be a future for any of us in the younger generation? These constructing of new "green" jobs under the Obama administration can not take any more time getting implemented because of millions of job loses over the past couple of months. I know the entire state of Michigan particularly the city of Detroit are losing jobs at a most alarming rate. I think President Obama needs to address this by making jobs immediately.
ReplyDeleteUnemployment in the U.S. has greatly affected me and my family. My sister, a recent Penn State grad (2005) has still not found a teaching job in her field (Elementary Education). My dad had his salary cut by 60%, and I'm finding it difficult to find a summer job in my hometown. I hope things look up soon.
ReplyDelete-Shannon O'Lone
I fear for thr future. I am currently going into my senior year in college. I am looking forward to grabbing the brass ring and getting started in my new career. However, I feel as though there isn't going to be one waiting for me when I graduate with tons of student debt to boot. Could this country, which is the richest one in the world, fall into another great depression? How can we follow such bad economic policies to have us arrive here? Some things have to change and fast.
ReplyDeleteAlthough we are currently learning that protectionist policies are generally bad for the economy, it does not seem like the general public could understand, or would want to understand this. And rightly so. To see so many jobs lost, the first thing to come to mind would be to keep more jobs here, and not lose jobs to overseas competition or outsourcing. Surely, unions are going to have a good reason to influence politicians to try and keep more jobs here, and it will be a tough fight among politicians that will argue about protectionist vs free market ideas to reform the economy. Either way, the thought of job loss getting any worse is frightening.
ReplyDeleteThe news on the economy seems to get worse each and everyday. My family has been hit hard in this miserable times. Our expenses have cut down dramatically and doing things for entertainment purposes have been cut down. My father who has a job right now, but business is really slow is looking for another place to work. He has been looking for a while but nothing has opened the door for him. What will this lead too if the economy does not get better? Are the students of this great nation looking into a bad future?
ReplyDeleteWe have all gone to college with the hope of attaining a better job with benefits. Unfortunately the future for employment looks grim. It is going to take some time for the current administration to turn things around...I hope we all get to see that happen soon.
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