Business

So what should we expect?
by Barbora Misakova

We should accept the fact it will take a very long time till the global economy gets back to its feet. It will not be weeks or months, but years till we can say it is all right. Most of the countries are fighting with high state deficits and terrible unemployment rates. And even though the numbers are slowly rearing their head, we will have to wait much longer to see real improvement. According to latest statistics, companies are laying off fewer workers and there are more job openings advertised. But it is still nothing, as employers are not ramping up hiring fast enough. Unemployment rate, now at its 9.6 percent, will not be reduced that easily. It is even expected it wil! l top 10 percent by early next year. But let’s be optimistic – companies are not laying off as many workers as before, and that is more than cheering. Michelle Meyer, an economist at Bank of America Merrill Lynch goes even further, when she forecasts that the economy will generate about 50,000 jobs a month for the next six months. Even though it is not enough to keep up with population growth, it is still quite nice number, I would say. Together with private employers and their net total of 75,000 jobs in September it is, at least to me, better than nothing. Anyway, for country like United States used on different score, it is really sufficient number. While Federal Reserve is likely to take additional steps to boost the economy, applications for jobless aid are falling. Maybe it is not that desperate, we just need to hold on!

related story (sgx18359): http://news.yahoo.com/s/ap/20101007/ap_on_bi_go_ec_fi/us_eco...

by Barbora Misakova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

posted by Blog TechSource @ 10:22 PM