Business

The Highest Unemployment in the Past Four Years
by Milota Sidorova

Recently I have heard of a state of 'growth recession' in United States of America. Although this quite unusual word reunion, literally we speak of despite some economical margins tend to point a growth, talking in general, American economy is not doing well at all.

The most often discussed reason are clearly the mortgage crisis ( that is about to celebrate its first birthday these days), followed along with the credit crisis, oil prices issues and one of the most important cases down in U.S. - the unemployment.

More than 8.8 of total 305 million American citizens have remained jobless in July. In fact the unemployment rate has reached the maximum in past four years, as Labor Department said on Friday. Approximately 51,000 job cuts jumped the index from June's 5.5 up to 5.7 percent. The crisis has impacted the manufacturer's business, especially construction division cutting off more than 22,000 jobs. Manufacturing has been surviving, however not growing in July 2008.

Many Americans see their fortune raking around communication and public relation fields. However, situation is not that easy to strike. As regarded, most of job hunters are applying on-line, intending to save their time and gas expenses. However, there's still been a trend to employ an applicant, interviewed face to face than anonymous file in the database. And moreover, each job portal, nor enterprise websites require an individual registration. If imagined being stressed father of a family looking for a job in his forties, making list of thousands of different passwords for thousands of different websites can be pretty annoying.

Something must be done, that's what both presidential candidates proclaim these days. Unemployment issue is one of the most influential themes of current election. As expected both of them promise to solve the situation as soon as possible, however, not hesitating to blame the opposite rival as well.
Obama has announced a $1,000 emergency rebate for Americans to offset soaring energy costs. McCain operates with a help to support small businesses create jobs.

To seize on actual government, the White House has already announced that it was going to improve job outlook in American economy.

According observers, summer peak has been created partly of consequently growing number of students and young people looking for temporary summer jobs. Naturally, not everyone had a chance to succeed. Actually one in five of teenage applicants has succeed. The situation should be recovered in upcoming school year.
However, critics don't see it that awesome. The unemployment rate forecasts talk about a cut off another half million offers, peaking final 6.5 percent index.

To sum dissolving impacts, American seem to spend less in past few months. We can even speak of 18 percent drop in driving, so far fewer Americans visit restaurants and so they do on holiday overseas.
They are adapting to the new (almost forgotten) modest conditions. On the contrary, a daily journal Forbes declared the number of billionaires have doubled in past 3 years. Sharping the differences, even rich and aggressive Americans seem to fall into class divisions.


related story: http://news.yahoo.com/s/ap/20080801/ap_on_bi_go_ec_fi/economy;_ylt=Agzj7MobBrz5ou6PIHVWWDes0NUE

by Milota Sidorova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.<br><br><font size=2>These news are original content from young talents around the world and are selected for you by Chris Cantell.</font><br>

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