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The current problems in the job market and the economy overall.

Economy:

The current economical crisis in America is causing a lot of problems around the world for the current job market. In fact over 3 million jobs have been lost in America and because of the losses in companies out-sourced jobs will be lost as well as jobs in America. Companies all over the world are losing sales and money such as Ford.

If the new stimulus plan goes through and works, then things like the clean energy plan will create millions upon millions of construction jobs. The stimulus plan, if it works will over time help with the current problem with the job market hopefully it will; or else the current unemployment percentage will sky rocket and possibly be more then we have ever seen.

The economy is currently heading towards a depression and something needs to be done even if it ends up taking years to fix. Overall over 3 million jobs have been lost over the world and more will continue to be lost overtime unless the economy starts to heal. Wages are being raised to go with the current prices of goods but what help is it if no one can get a job to obtain the money? Or what if no one is willing to spend their money to put it back into the economy? What would happen then?. We would go into the next great depression which might be worse then the first one. In fact during the great depression the rest of the world had been affected a lot more then America was.

The world overall is in trouble because of all of the outsourcing and worldwide trading. Jobs are being lost all over the world in every country because of the fact that American companies have outsourced so much, at first it was good creating over 1 million jobs. All of those jobs will eventually be lost unless something is done about it and if nothing is done the jobs might be lost which may seem bad but isn't horrible at the same time. The outsourced jobs around the world have had a lot of trouble between the workers and the companies over things such as prayer times, hourly wages, and unfair terms towards other workers. All of these problems at the work place might cause these jobs to be lost in the first place and if they are it might loosen some of the strain against the workers.

More problems in the economy today:

The current housing market in America is also a major part of the crisis in America that is destroying banks and jobs. The housing market is pretty much destroyed and houses are now barely worth what they used to be, because of banks giving out a lot of loans that couldn't be paid back. One loan in fact was worth 450,000 dollars which was given to a college graduate that only earned 50,000 dollars a year. The banks losing money so rapidly that couldn't be paid back is a main cause of the current crisis, it was bound to happen eventually but the banks and their bad loans caused the fall of the stock market and the housing market. Now banks have something known as bad bonds or pieces of the bank that are poisoned and if kept by the bank will eventually destroy them, forcing more banks to go out of business deepening the hole the economy is already in.

Current job losses world wide:

January 27, 2009: Companies cut 70,000 jobs world wide.

Economists current worry from the amount of losses world wide so far that there might be an overall loss of 600,000 jobs per month at the current rate. The current unemployment rate has raised to 7.6 percent in the past few months.

Sources cited.

www.npr.org

local news paper and world news

all images found through http://creativecommons.org/ and

http://www.flickr.com/photos

Links for job losses aroundthe world

-http://www.radioaustralianews.net.au/stories/200901/2474800.htm?desktop

 

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