Friday, October 2, 2009
Unemployment Rate at 9.8 Percent, Highest Since 1983
Unemployment rates have reached an all time high since 1983, at 9.8%. While the number of nations jobless rose to 15.1 million. To make matters worse economist expect the unemployment rate to rise in the upcoming months. "It's safe to assume that the recession is technically over, but when is it going to feel like its over in the real economy?" Heidi Shierholz, an economist at the Economic Policy Institute said, "It's safe to assume that the recession is technically over, but when is it going to feel like its over in the real economy?" Over one third of the nations 15.1 jobless people have been unemployed for more than 6 months.
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3 comments:
This article was so informative and even more eye opening. I cannot believe we are graduating soon and have to face this harsh jobless economy. One of the interesting facts from this article is that "there are now six unemployed people for every job opening across the United States." WOW! I am just amazed at how awful the job market is even with the end of the recession and if the market maybe turning around. But part of the problem is that companies while doing less firing are not doing any hiring. So, we cannot move forward. I hope that the US pulls out of this sooner rather than later so that we can afford to live on our own after graduation.
This is probably one of the worst bad news articles for a college senior to be reading right now. The unemployment rate is at 9.8 percent and projected to climb higher as the year rolls on. What happened to the 4-5 percent unemployment rate that the US had? Hopefully we find a way to start lowering the unemployment rate and making life easier on those looking for jobs and graduating college.
"Economists have forecast that unemployment will rise through the end of the year, when layoffs tend to increase anyway, and some say that the surge of unemployment will extend well into 2010." Thats just sad govt needs to put their act together and work on this I agree with both of you because this is the last thing a senior wants to hear and its kinda discouraging as well because we know it will be tough to find a job and why even bother trying. I think as article talked about Michigan and Nevada the govt will try to extend unemployment benefits is a good idea which gives us at least some hope.
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