The unemployment rate is now over 10% even though claims for unemployment seems to have dropped. Many analysts predicted unpleasant numbers for the job market but the current numbers reported were worse than expected. However, there are numerous contradictions in the information surrounding the reports from the job market.
Anyone reading the news will hear reports that the economy is getting better with each day and the recession is over, but there is rising problems with unemployment and benefits. People are running out of income and congress extended unemployment benefits to help struggling Americans but businesses are reluctant to hire employees despite the positive reports of the recovering economy.
One wonders how the economy is improving when it heavily relies on the public for cash flow, yet the number of people losing their income is rising. The unemployment rate is a number that gives an estimate, but there are more people unemployed than that number states. The unemployment rate is based off of unemployment claims and can’t factor in people who are out of unemployment benefits or those unemployed who don’t qualify for unemployment. So, in truth, the unemployment problem is higher than the data states.
However, with the economy reportedly on the mend why are businesses not hiring more people? It seems that the only way to truly be rid of the recession is the repair the job market, but there are endless problems in the job sector. Companies are hesitant to hire with the economy just coming out of the recession, job seekers complain of employers who are asking for outrageous qualifications and offering little compensation for those demanding jobs, and college graduates willing and able to work are being passed over due to lack of experience, so all is not well in the job world.
What must happen to correct the job market is for some companies to take a chance. Hiring employees gives those people an income, which will allow them the safety of spending again, which brings profit to other organizations and companies and boosts the economy. Waiting for things to get better is only going to result in slow recovery because the actions necessary for economic growth, like hiring new employees, must come first. The nation can’t wait for things to get better because with unemployment seemingly on the rise still, we can’t hope other economic markets will make up for the slow rise in employment, but must give those willing to work a chance in the hopes that a surge in the job market will be the spark to finalize and solidify our economy.
With the unemployment rate still historically high some are looking for bad credit installment loans. It is important for all those who are unemployed to think about ways to avoid high interest rate loans. Unemployment loans got popular in 2010 and 2011 but it is nearly impossible to get this type of loan in early 2012. It may also be smart to avoid credit cards as these bills can build up over time. Finding a well paid job is always the best option.