Every month as the government reviews the economy the first news is always that the economy is improving and has shown marked gains. Golden Sachs suggests that, “The United States can expect substantial acceleration in real GDP growth over the next two years to a 4% pace by early/mid-2012".
According to the bureau of Labor statistic’s report for February 2011, the unemployment rate for the whole of USA went down in January 2011 to 9% from a high of 9.8 in November 2010. This is surprising considering that only 36,000 jobs were generated, the lowest in four months.
The percentages given are government figures and knowing that they have to do damage control the figures do not always represent the truth. There are many people who have fallen out of the radar of unemployment because they stop reporting their unemployment status either because they have exhausted their unemployment benefits or have just given up after searching for employment for so long.
According to an Associated press report, “Job openings dropped sharply in professional and business services, a category that includes temporary help agencies. They also fell in construction, manufacturing, and in education and health services”. These are areas that normally require great education and are needed because they are service oriented.
Certain states are in fact reporting higher unemployment figures which again is just a tip of the iceberg of the reality in the ground. In California, where this writer is based, currently the reported unemployment is estimated to be 12.5 % up from 12.4 in the previous months.
House foreclosure have also continued to climb up even though we are told that the economy is getting better. According to an Associated Press (AP) analysis, “the nation’s economic stress inched up in December because higher foreclosures outweighed lower unemployment”.
Read more: http://socyberty.com/issues/the-the-usa-economy-is-not-getting-better/#ixzz1QPskoyGn
According to the bureau of Labor statistic’s report for February 2011, the unemployment rate for the whole of USA went down in January 2011 to 9% from a high of 9.8 in November 2010. This is surprising considering that only 36,000 jobs were generated, the lowest in four months.
The percentages given are government figures and knowing that they have to do damage control the figures do not always represent the truth. There are many people who have fallen out of the radar of unemployment because they stop reporting their unemployment status either because they have exhausted their unemployment benefits or have just given up after searching for employment for so long.
According to an Associated press report, “Job openings dropped sharply in professional and business services, a category that includes temporary help agencies. They also fell in construction, manufacturing, and in education and health services”. These are areas that normally require great education and are needed because they are service oriented.
Certain states are in fact reporting higher unemployment figures which again is just a tip of the iceberg of the reality in the ground. In California, where this writer is based, currently the reported unemployment is estimated to be 12.5 % up from 12.4 in the previous months.
House foreclosure have also continued to climb up even though we are told that the economy is getting better. According to an Associated Press (AP) analysis, “the nation’s economic stress inched up in December because higher foreclosures outweighed lower unemployment”.
Read more: http://socyberty.com/issues/the-the-usa-economy-is-not-getting-better/#ixzz1QPskoyGn
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