US unemployment rate reaches 7.6%

All over the world, the crisis has negative consequences. Let us think for example about the US housing crisis and the interest rate that hasn't been this low for years. But also the employment wasn’t safe from the economic crisis…

We could say that the unemployment reached its highest level since 1992. Official figures tell us that the rate rose from 7,2% in December to 7,6% in January. Due to the recession which started in December 2007, 3.7 million jobs were lost in the United States. Almost half of those jobs were lost in the last three months. This has several reasons. At the beginning, the auto sector crossed out 207,000 jobs. Also other sectors, like construction firms, the hospitality sector, professional and business services, have problems and cut a lot of jobs. According to economists, the situation is worse than they expected.

According to the president of the US, Barack Obama, the figures are quite alarming and demand some action. He wants to do something for all the people who lost their job, so he urged the Congress to pass his economic stimulus package without delay. He really wants to make the economy better during his presidency.

My opinion is that this situation is very awful and serious. Every job that gets cut, is one too much. But I think it’s very difficult to make this situation better, because the economic crisis is responsible for this situation and the period of recession has to repair itself. We can’t do a lot of things to make it better, I think we have to wait and be patient.
I really have confidence in Barack Obama. I think he will do all he can to make this situation better.

Source: http://news.bbc.co.uk/2/hi/business/7874955.stm