U.S. Unemployment Rate Shows No Sign of Dropping
If you are one of the 15million Americans who are currently unemployed, expect some company within the next year. Experts believe that the unemployment rate in the United States could rise from 9.8% to more than 10% by the middle of 2010.
This prediction was made by Christina Romer, the chairwoman of the White House Council of Economic Advisors, during a hearing of the Joint Economic Committee of Congress. In addition to her prediction that unemployment rates would rise above 10%, Romer added that she believes job growth will not start to rise again until 2010 reaches a close.
Romer repeatedly cited a study conducted and published by a private sector of forecasters who think the economy will begin to emerge from the recession over the course of the next year, and will grow very slowly during this time period.
Romer also warned that unemployment growth tends to recover from economic downturn at a much slower rate than economic growth. This means that job creation must recover a lot of ground lost over the past two years, and will most likely do it slowly.
The U.S. unemployment rate is currently listed at 9.8%, and is expected to briefly lower and settle at 9.6% by the end of 2009. This rate change will not be long, however, and unemployment rates are expected to peak at 10.1% during 2010’s second quarter.
Approximately 7.2 million jobs have been lost since the United States slipped into a recession two years ago. Experts estimate that 10,000 jobs have to be created per month just to keep up with increases in population. By these calculations, the United States currently has 9 million fewer jobs than needed.
It can, however, be noted that the United States economy has grown considerably over the past six months. This progress can largely be contributed to President Barack Obama’s American Recovery and Reinvestment Act, which has pumped $787 billion dollars into the economy.
Romer’s address to the Joint Economic Committee of Congress ended with a warning that employers in the United States will most likely be very cautious as the economy turns around. Romer’s speculation could mean that many business owners will be reluctant to create new jobs and hire additional workers until they see significant changes in the economic climate, which could impede the economy’s growth even further.
Questions and Answers
Job losses and the unemployment rate are the worst they've been in decades. If you've found yourself with a pink slip, or you're worried you might get one, here's what you need to know about your unemployment check.
Unemployed payday loans are really blessing for the unemployed find themselves helpless while facing urgent situations. These loans help them getting cash without any hectic process.
Many people have been forced to file for unemployment benefits due to their unemployment status may feel that they are leading lives of misery. They will lose their confidence and self esteem due to their unemployed status. With the coming into force of the online loans for the unemployed, they will not only regain their confidence but these loans will also give them the much needed financial boost. Just like the name suggests, these loans are available online.
The United States unemployment rate is actually an estimate based on a survey conducted every month by a division of the U.S Census Bureau
The Ohio unemployment rate increased slightly in July to 11.2% making it the highest unemployment in Ohio in over 25 years. The U.S. economy in recession is the biggest contributing factor to the current high local and national unemployment rate.
If you've recently been laid off, you may have to fight for your right to collect unemployment benefits from the government. You probably know that if you are fired, you can collect unemployment benefits. Although qualifications can vary from state to state, generally however only people who are laid off from their jobs will qualify for unemployment benefits. But did you know that, even if you are laid off, your employer can challenge your right to receive benefits?
Teaching English abroad in Vietnam is a unique experience for anyone who seeks to explore a beautiful country with a rich heritage. You may find people who say that it is not difficult to find jobs in Saigon, but the converse is true. It depends on where and how you conduct your search.
Thailand is a beautiful country with an expanding opportunity to teachers seeking opportunities to travel and teach. The steady demand for native English speakers means that any confident applicant with basic teaching skills can secure employment without difficulties.
Doctor jobs are growing in demand. Canadian research discovered that over four million Canadians lack a family physician Because four million Canadians don't have a family physician, the need for physicians is enormous Provinces throughout Canada are desperate to fill these vacancies.
Although Singapore is an island nation, it has grown to become a modern and efficient first world model country in Asia too. The infrastructure is remarkable and education sector largely successful.
Malaysia is a beautiful country with a thriving tourism industry. Like other emerging countries in Asia, the education sector spurs the knowledge-based economy. The education reforms have been instrumental in producing a quality workforce that satisfies the professional demands of various industries.
For many, debt relief is an elusive concept that is difficult to find, and a national debt relief program is surely needed.
Millions of jobs have been lost, and credit has been tightened. Financial hardships about for individuals, families, and businesses all across America. And this is where debt relief can be extremely useful.
Millions of jobs have been lost, and credit has been tightened. Financial hardships about for individuals, families, and businesses all across America. And this is where emergency debt relief can be extremely useful.
Millions of jobs have been lost, and credit has been tightened. Financial hardships about for individuals, families, and businesses all across America. And this is where debt relief can be extremely useful.
The debt relief programs which exist today are easier to apply for (in most cases online), the approval process is remarkably swift, and the amount of debt that is eliminate through the debt relief programs today is nothing short of miraculous.
Discuss this Article
