Monday, November 9, 2009

One Year After Presidential Elections
by Claudia Sonea


The recession seems to get worst and no improvement has been recorded in any of the countries hit. Due to the greed, corruption and irresponsibility of the banking system, US and UK are the worst hit with small chances to get back on track. When Obama was in presidential campaign, he promised not to rest until a valid solution will be found. A year after the campaign nothing changer, but actually went downhill. It all started with the crash of the stock market on Wall Street and then the collapse of the real estate market. Among the last survivors who managed to have profits this year were the electronics industry, mobile phone carriers, w! hile on top of the most pressing issues was from the beginning and threatens to get worst: unemployment. According to the Organization for Economic Cooperation and Development (OECD) the unemployment rate for last month was 10.2 which is well above expectations and it is for the third time that it goes over 10 percent, but with the mention that this time the debt is triple from 1982 or 1983. What advantages has the unemployment nowadays then: bigger benefits, faster access to job offers through the Internet, federal stimulus programs (subsidized health coverage). For the past 22 months the job market in US presents a dark picture with cut backs, people who are looking for jobs for over six months and the forecast is not brighter. However, the unemployment casts doubts upon the election of President Barack Obama and the Democrats in Congress. If they won’t concentrate on the job creation and financial measures to resurrect the market! , Democrats will be seen as the party with the worst governmen! t ever. In the meantime, Obama was enjoying a Halloween party and honoured some diplomatic engagements.

related story (sgx15844): http://news.yahoo.com/s/ap/20091108/ap_on_bi_ge/us_jobless_t...
by Claudia Sonea
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.

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