The Job Market's Big Slump

The Job Market's Big Slump

www.csmonitor.com

New York - The United States is now in a jobs recession.

For five consecutive months, there has been a steady loss of jobs, mostly in construction and manufacturing. Now, the job losses are spreading to restaurants, retailers, airlines, and even professions such as accounting. Teens are having an especially tough time finding work this summer.

The lack of hiring and increase in firing have wide ramifications for the US. The job losses will probably intensify the debate in the presidential campaign over who can best stimulate the economy. With more of their constituents out of work, members of Congress may act to provide additional aid to the unemployed.

(visit the link for the full news article)

Just remember though, there's no recession---We're just in a "little slowdown" according to our decider and gov statistic skewers...Oh, and there really isn't an increase in unemployment, there's just "a bunch more teenagers looking for jobs"...The 103,000 layoffs in the last two months alone is all just an "illusion". Move on, nothing to see here. Everything's fine.

Until April, it appeared that employers were trying to keep their workforce. But in the past two months, announced job cuts have soared, according to the Chicago outplacement firm of Challenger, Gray & Christmas. Last month, companies announced 103,522 layoffs, the highest pace since December 2006.

www.csmonitor.com
(visit the link for the full news article)

...temporary-workers business is still "surprisingly" steady. However, "We're seeing more caution from clients on permanent and direct hiring," says William Grubbs, chief operating officer. Companies are also taking longer to make decisions on hiring,...

With more and more and more Americans without health benefits.

"In the recent past, the labor-force participation by teens has been very low," says Richard DeKaser, chief economist at National City Corp., a bank based in Cleveland. "But it looks like kids are back in the job market in a very aggressive way."

Yes, as parents lose jobs/find work for less pay, teens are forced to find work, not to help pay for a car, college, clothes, but to help put food on the table and pay rent/mortgage.

Gee, wouldn't it be nice if America's economy would "go green" as Thom Friedman sugggests?? This would help with jobs and be a signal to other countries that we have a clue to help the nation's economy besides sending out government checks.