In July, the unemployment rate held steady at 9.5 percent even though across the United States a whopping 131, 0000 jobs were lost. Americans are giving up looking for jobs because they just aren’t out there.
With the economy in the slump it’s in now what money the American people have they are holding on to and they should. No one wants to spend money you cannot afford to spend. Americans are thinking ahead, what if my spouse or I become sick or even my child and we need time off from work. This is all due to the loss of jobs across the United States. Unemployment hurts many people.
The United States economy is slowing down and it could undermine the recovery. Sung Wohn Sohn an economics professor at the California State University Channel Islands stated, “A double dip recession is not likely, but not out of the question.” While Sylvia Allegretto an economist from the institute for research on labor and employment at UC Berkeley has noted, “The economy has lost nearly 8 million jobs since the recession began and 10 percent of those losses have occurred in California.”
The jobs that are out there only pay minimum wage and most are in hamburger joints that will only give you about 15 hours a week if that. American people cannot live on that and the government knows that. There are few jobs available and the ones out there are poorer jobs with fewer hours. The AP reported that so far this year, the economy has created 117,000 high paying jobs in fields such as, construction, manufacturing, engineering and law, compared with 513,000 jobs for service sector occupations like $9 per hour cashiers and $13 per hour hairdressers. This is leaving the American people to wonder where these jobs are, for most it’s not in the town, city or county they live in. So where are the jobs? This is what all the unemployed American people want to know.
Joel Prakken the chairman of Macroeconomic Advisers stated, “Employment lags GDP, and many forecasters are revising down their forecasts for the GDP growth for the second half of this year, given the soft tone of the recent data. That suggests to me we may be several months away from the vigorous growth in employment that you would like to see in this phase of recovery to propel it.”
President Obama stated Friday “The road to recovery does not follow a straight line. Some sectors bounce back faster than others. The fact that we have now added private sector jobs every month this year instead of losing them, as we did for the first seven months of last year and that’s a good sign.”
Although jobs were added, many Americans have still given up looking for jobs because they just cannot find jobs where they live. Many Americans are becoming frustrated because of this and because they cannot make ends meet and many are losing their homes because of it.