By: Zachary Pienkowski
No one needs to tell college students that the job market is difficult. Countless recruiters tell students they are not hiring and cutting back, but will hold on to their resume and give a call if something opens up. Think that call ever comes? Probably not. However college grads are not the only ones seeking job, as the national unemployment rate has risen over 10%. The question in many Americans mind is when is this going to stop? Well many reports have been put out by the Federal Reserve recently saying the jobless rate will begin to drop, but do so very slowly. Most experts don't expect the job market to return to the full health of the past for at least 5 or 6 more years. Meanwhile, many unemployed men and women must take whatever they can get to pay the bills, even if it means settling for less. The economy is expected to have a 2-4% growth rate next year, but that will not be enough to jump-start the dismal job market. President Obama said that with the first stimulus package that was issued the unemployment rate would not rise above 8%, but it ended up soaring over 10% in a matter of months. The Obama administration still believes that the stimulus packages were effective and plan to release another one, however it will not be called a stimulus package because of the negative feelings the American public has about the effectiveness of the original.
Sources:
http://finance.yahoo.com/news/Fed-says-jobless-rate-to-drop-apf-2316913196.html?x=0
http://newsbusters.org/blogs/julia-seymour/2009/11/06/unemployment-surges-10-2-percent-cnn-asks-about-second-stimulus
http://money.cnn.com/pf/features/lists/state_unemployment/
Dear Site Owner,
ReplyDeleteI would like to say that your blog is well-written and it contains lots of useful and up-to-date information. We really got interested in your web resource and we would like to cooperate with you. My websites are devoted on various financial themes and the have got amazing traffic and Google Values.
My sites contains loads of useful financial information presented in news and articles that highlight the most much-talked-of issues such as credit cards, debt solutions, financial crisis, ways out of it, and many more. We believe this information can awake interest in your readers and can help you gain more and more traffics well. We would like to do some link exchange with your sites. If you agree then please let me know as per your convenience: dorothy786@gmail.com
We thank in you in advance for your cooperation.
Best regards,
Dorothy Parker
Very informative article! Recently I heard on CNN that 2009 was the highest "unemployment rate" year in a very long time, but 2010 promises to be very optimistic in this regard. - Alma Zhumagulova.
ReplyDelete