Jobless rate at 20% ??? 0
At 10.2% jobless in the United States and the worst job market since the early 1980’s nearly everyone is feeling the crunch. Even if you are presently employed chances are you know someone, or multiple people who are actively seeking a position.
The jobless rate is based on the number of people in the united states who are actively seeking employment. It does not account for those who have settled on part time work, gave up entirely or those that have decided to further their education in lieu of looking for more jobs that are not there. This, sadly, moves the U.S. jobless rate closer to 20% than to 10%.
The business cycle and economic correction has pros and cons. The pro is our economy needed a shock to get set back in reality and reduce the credit risk and expose everyone seemed to be taking. It also has increased the number of qualified works that can be had at a fraction of previous rates by employers. Cons, well I dont think I need to go into that, we have all felt the crunch to some extent or another be-it the loss of a home, a job or deminishing returns on investments.
The world is one large economy now and will grow even larger with fewer boundries, if we as a country do not take steps to embrace this change and stay ahead of the curve we will be left behind.
Happy Job Hunting!
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