Saturday, October 3, 2009

U.S. Job loss recorded the 26 year highest 9.8 percent.

The Job Loss percentage in U.S is still alarming high. It touched the 26 year highest jobless rate 9.8 percent in September compared to 9.7 % of August. Unexpectedly U.S. employers cut more jobs in September compared to that of August. So more and more people are becoming jobless in spite of cost cutting ,salary deduction and all those necessary steps taken by Mr. Obama.

We are just in a path of recovery from the worst recession of the decade, but still the effect of recession is not over, we must not take these things lightly. "We are more inclined to view September as a temporary setback than as a signal that the decelerating trend in job losses has stalled out," said Stephen Stanley, chief economist at RBS in Greenwich, Connecticut. But I think it’s high time now and Government should take necessary steps to overcome this situation.

The number of unemployed people has increased to 15.1 million from 7.6 million since the recession started. Still there is no sign of any improvement .Hiring by companies is still on a low scale and the probability of loosing job is getting higher and higher and I am afraid what will happen to our coming generation.

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