There is a lot of talk about today economic recession. People are complaining how the economic recession is worse than their lives. The economic recession often refers to two quarters of negative economic growth. A serious recession that lasts more than two years, he becomes depressed.
The recession is characterised by rising unemployment, an increase in government borrowing, the decline in stock prices and stock and falling investment. All of these characteristics have a bearing on the people.
People have a general idea about the negative effects of the recession. But as an ordinary consumer to get the recession, employment in particular is not very clear.
John Schmitt and Dean Baker has released a new report on the possible impact of the recession on what we're in, it is assumed that the economic impact of the next recession, this year. In its report to the 2008 recession in the United States is the perceived degree of national employment between 2.1 and 3.8 percentage points. It would be the equivalent of between 3,2 million and 5,8 million unemployed Americans. CalculatedRisk says, on the basis of this report and the recession in the history of the United States, that the economic downturn can be measured by how high the number of people unemployed is rising.
On the basis of United States history, a handful of people in recession times, when the unemployment rate increased during the expansion. Unemployment increased by 0.5 percent or less and an instance. But these scenarios happen when the country is not under any economic collapse. When the percentage of unemployment reaches 0.6 percent, the economy is described under recession. This year the US unemployment rate is nearly 1.1 per cent.
Economists, is not yet formally identified the economic downturn in the us as the economic recession. In the midst of falling home equity, the rising cost of food, health and housing, together with a disturbing number of unemployment, economists still calls for growth in the economy will still, even if it's small. People found unnecessary for formal notification to actually feel the recession coming.
According to the Miami Herald the unemployed people are desperate. The number of people to work for, or six months or more increased from 160 thousand from July to August. There were 10.7% of people who would like to work full-time, but
they are not able to do so. Due to the unavailability of positions.
It doesn't matter if you have a degree under his belt. College graduates this year are also experiencing the highest unemployment rate since 2004 with 2.7 percent. Meanwhile, 9.6 percent of graduates from high school, unemployed, and this number is also the highest since 1996.
Most jobs are in the manufacturing sector, which lost the 61,000 jobs this year. In the manufacturing industry, the Miami Herald quoted the 20 percent of the loss of employment, even if the number of export is increasing.
Even if the wage or salary increases compared to the 2007 salary, an increase of 3.6 percent and inadequate in comparison with the rapid pace of growth of prices of raw materials. Purchasing power of consumers is still low. The cost of food and beverages are 5.8% higher than 2007.
For those who were employed and thank your lucky stars is still a hitch. The company already limit the health coverage for their employees. Currently 694 $ and $ 3,281, respectively, according to the latest data, the Kaiser Family Foundation.
The economic recession is an event that is very difficult for everyone. The real economic position, hopefully, will be instantly recognized properly addressed and resolved.
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