After shooting up 4/10ths of a percentage point, unemployment in Auguest has reached 6.1 percent.
Two things: Is this proof of USA being in a recession? What have been all the causes of this down turn in the economy. And yes, even my bleeding liberal heart knows that factors beyond the Republicans are to blame.
Well there is one thing I would like to say...gas prices are dropping. Maybe people can afford to drive to work again and hope to not be late for work.
Michigan was at 8.5% in July so I am feeling the effects more. As a whole country, we will bounce back. I have a bad feeling about Michigan though. I wonder if we will ever get out of this hole. Now especially after the mess of Mayor Kwame Kilpatrick, I just don't know if the economy will ever be good. I know it will bounce back sometime but it won't be that much.
The reason gas prices are down is so then it can rise to $4.25 in most areas.
Price is determined by supply and demand. If our gas prices fall, then this means we have more supply of it, thus another country has higher prices :-$
As of the unemployment rate, why? I haven't heard of any businesses closing down o.O
As of the unemployment rate, why? I haven't heard of any businesses closing down o.O
It is called laying off employees. Ever heard of that? haha
Anyways, there are more and more people being laid off. Businesses just don't have enough money to pay extra salaries.
These unemployed people may get a job but then more people are laid off at the same time. I live in Michigan and the car companies are laying multiple people off.
I live in Michigan and the car companies are laying multiple people off.
That's GM's fault for being stupid and continuing to produce big trucks and various other motor vehicles. Unfortunately, the company's lack of foresight will leave thousands of people without jobs.
That's GM's fault for being stupid and continuing to produce big trucks and various other motor vehicles. Unfortunately, the company's lack of foresight will leave thousands of people without jobs.
Wow the economy sure runs on consumerism. Think what would happen if kids were not brainwashed to buy Abrocombie, or even worse, HOLLISTER! The malls would close down...and probably used for a town center!
At this time, unemployment is a reflection of employers being less amenable to a) being generous b) growth. Companies are cutting down and being "more streamlined" to cut costs and also in response to faltering consumer confidence.
If you tune into the news, most likely you will hear at least two or three reports a week of a major company closing a firm down or laying off several hundred employees at once.
Hmm. Well, my line of work (music) hasn't been affected. (Currently, I'm employed in retail. This is temporary and will change when I can make money off of my trade.)
Would most people who lost their jobs find another? Even a minimum wage job? Are these people included in the unemployment rate?
If not then the number would be a lot higher.
No one is hiring. I am lucky to get a job at 15 but I know the place I work at is not hiring anyone. That means multiple businesses are not hiring because I have not seen a "Help Wanted" sign in a while. People who do not have a job are in the unemployment rate. People who do have a job are not included.
That's GM's fault for being stupid and continuing to produce big trucks and various other motor vehicles. Unfortunately, the company's lack of foresight will leave thousands of people without jobs.
They started doing that when Michigan was blooming. Then we went into this horrible state and GM needs to get rid of these cars so they need to make new ones to attract people. It also doesn't help that the owner is making multi-millions.
