2 million jobs lost so far in '09

The unemployment rate in the U.S. reached 8.5%, that’s the highest point in 25 years. In March this year there are already 663,000 jobs lost and since the beginning of 2008 already 5.1 million.

Since the beginning of 2009 there are already 2 million jobs lost. In March the job losses were felt in all areas of the economy, in the manufacturing and construction sectors as well as the business and professional services industries,… but they were not the only sectors, also the government trimmed some jobs. The only sectors that added some jobs were the education and the health care services, with 8,000 jobs.

Experts are not optimistic at all, the chief executive of Adecco Group, one of world’s largest employment staffing firm, said that many of the layouts announced in recent months have yet to be implemented. He also predicts that the job loss in April will be between 600,000 and 700,000 and after that in May and June between 300,000 and 400,000. Another expert said that the rising unemployment could influence the consumer confidence and spending, which would lead to more job cuttings.

Not only experts are worried also the government is taking steps to take care of the problems in the job market, with the earlier announced economic stimulus plan.

I think the growing unemployment rate is normal for an economic crisis because a lot of companies have problems and the first thing they do to lower their costs is fire people. But it’s the task of the government to resolve such situation by creating jobs. There is already a stimulus plan for the economy but I don’t think the plan is working because the unemployment rate is still rising so the government has to come with new solutions. But instead of creating jobs they also fire people…

Source:http://money.cnn.com/2009/04/03/news/economy/jobs_march/index.htm?postversion=2009040310