This recession is far from over! We’re just lucky that it did not turn in to a full depression.
By Daniel at 4 February, 2010, 2:07 am
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I think the jobless figures are really artificially high. Take for instance my home state of Florida. Everyone here, up to two years ago, had to have two jobs just to survive. So many of the jobs lost, were jobs representing only half of the employment of Florida workers. So if say 20,000 jobs were lost in Florida, that actually only represents the loss of 10,000 people’s full time employment. So the employment figures, at least in Florida, are only half as bad as they really are.
We will never really know the true amount of unemployed people because of the way the system works. In reality, I would not be surprised if more than 20% of the working capable people are out of jobs. If you were to stand in a busy shopping mall or on a busy street corner, and ask people if they are unemployed you would be very surprised at the results. It works out to much more than what the official numbers are.
In any-case, unemployment is terribly high and more people are still loosing their jobs. Even if the rate of job loss is low, in a technical sense it is still a bad situation. When you hear 22,000 more people lost their jobs, this means 22,000+ more people who will be spending less, and thus perpetuating the consumer spending problem even more. Most of these people would be supporting their families. This means more families who will be spending much less.
What we really need to see is the employment rate climbing in a continuous direction. I think we will be waiting a long time for this. More North American and European companies are still moving what’s left of their operations to China. It is obvious that this recession was based many combinations of greed.
I think this recession is far from over! We’re just lucky that it did not turn in to a full depression.
Jerry G.
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