Saturday, March 21, 2009

The US job crisis

Every single individual in us has one word in their mind i.e., the job crisis. Job crisis in US is really hitting new height and the recession is yet to deepen as the scale of the economic crisis is growing higher and higher day by day, statistics revealed that the United States is loosing more then 25,000 jobs everyday. In last 25 years US economy reached its highest level of unemployment it was the world’s worst economy shed 651,000 jobs were lost in the month of February. Since the recession started more then 4.4 million Americans have been made redundant more then 12.5 million are officially unemployed in US. The unemployment rate of loosing job was to every sector, except government, education and health but the worse effected was US labor department more then 7.9%

The Barack Obama $787 billion stimulus package will definitely help to improve the current crisis. But it will definitely take some time. However in the recent time some 9000 government jobs were created with an increase in health service and education employment. But according to a prediction by gloomy economist the job market may not pick up until 2013.Hope that the huge fiscal and monastery measure will work out very soon to come out of this situation.

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