So, Where Are the Jobs?
July 9th, 2009 |
The recent news on the unemployment figures for the U.S. economy is not so rosy. Whatever happened to those early projections of saving or creating up to 3.5 million jobs over the next two years as a result of the much touted stimulus package? So far, it not only has been ineffective in decreasing the unemployment, but in fact, the ranks of the non-working in this country are up, way up.
The discouraging news released last week indicated that since the recession began some 18 months ago, 6.5 million American’s have lost their jobs. Many have also lost their retirement funds and their homes in the process. The unemployment rate in that time has nearly doubled and the newest figures put the rate of unemployed at 9.5, the highest it’s been in 28 years. As if that’s not bad enough, it’s expected to top 10% before it peaks.
These grim statistics are affecting people across the board, both blue collar workers and their white collar counter-parts. It seems that everybody is hurting to some degree. Although 90% of American’s are still working, most of them are having to make do with less money and fewer working hours, and they’re the lucky ones. The less fortunate are numbered among the 15 million who are currently looking for work.
Reports indicate that the government expects to see an additional 750,000 jobs opening up by the end of summer and though that sounds somewhat promising, the fact is that it won’t put much of a dent in this unemployment crisis we’re embroiled in.
Part of the problem seems to be the length of time it is taking to allocate the appropriated monies to the right places. Why? Now is when those funds are needed; not at some ambiguous later date.
Many economists speculate that the stimulus package (which seems to the average American like a staggering sum of money) is not large enough to be very effective and say that it cannot appreciably change or reverse the financial climate we find ourselves in. Some discussion is ensuing on the merits of another stimulus package. That news should have Rush Limbaugh pulling out his last few strands of hair.
July 9th, 2009 |
The recent news on the unemployment figures for the U.S. economy is not so rosy. Whatever happened to those early projections of saving or creating up to 3.5 million jobs over the next two years as a result of the much touted stimulus package? So far, it not only has been ineffective in decreasing the unemployment, but in fact, the ranks of the non-working in this country are up, way up.
The discouraging news released last week indicated that since the recession began some 18 months ago, 6.5 million American’s have lost their jobs. Many have also lost their retirement funds and their homes in the process. The unemployment rate in that time has nearly doubled and the newest figures put the rate of unemployed at 9.5, the highest it’s been in 28 years. As if that’s not bad enough, it’s expected to top 10% before it peaks.
These grim statistics are affecting people across the board, both blue collar workers and their white collar counter-parts. It seems that everybody is hurting to some degree. Although 90% of American’s are still working, most of them are having to make do with less money and fewer working hours, and they’re the lucky ones. The less fortunate are numbered among the 15 million who are currently looking for work.
Reports indicate that the government expects to see an additional 750,000 jobs opening up by the end of summer and though that sounds somewhat promising, the fact is that it won’t put much of a dent in this unemployment crisis we’re embroiled in.
Part of the problem seems to be the length of time it is taking to allocate the appropriated monies to the right places. Why? Now is when those funds are needed; not at some ambiguous later date.
Many economists speculate that the stimulus package (which seems to the average American like a staggering sum of money) is not large enough to be very effective and say that it cannot appreciably change or reverse the financial climate we find ourselves in. Some discussion is ensuing on the merits of another stimulus package. That news should have Rush Limbaugh pulling out his last few strands of hair.
