Job Market Continues to Worsen
News organizations, publications, and broadcasts across the country talked about the recession taking a turn for the worst. A report released earlier by the Labor Department confirmed the unemployment rate in September hit a record high of 9.8%. As CNN reported, “the long-battered U.S. labor market took an unexpected turn for the worse.” This news dispels any notion that the recession is over or will be soon.
The CNN newscast in particular brought to light that teenage unemployment is at a record high as well. This piece of data relates particularly well to my topic of young people coping in the recession because:
- Young people, particularly college students, must cope with the recession too, since
- Many parents are unable to afford college without some sort of aid, which
- Causes questioning of the college education, and
- They must adapt to the needs of the present, meaning the current labor market has raised the bar and added increased pressure for rising professionals to be more ambitious, more creative, more innovative, more hard-working than the next person by utilizing all the tools/resources available to them.
The CNN Article also touched on the effect this news will have for consumers. John Silvia, chief economist with Wells Fargo Securities was quoted saying, “It’s a huge challenge to consumer spending. It’s going to be a tough Christmas for a lot of families, a lot of retailers and any businesses that depends on the consumer.” What will this mean for the service industry, who make the most profit during this time?
With the forecast of job gains being in 2010, you can’t help but wonder how this affects people, how they are coping, and future plans. Despite the bad news delivered from these reports, many people are relying on optimism, positivity, and perseverance to get them through these tough times.
By sharing these stories and putting a human face to the dreadful statistics, others can relate and feel compelled to remain hopeful, knowing that people just like them are surviving through the recession.
I really think you did a lot of good research this past week. The articles were very interesting and obviously things we need to know for our future. The statistics really help put in perspective how the job market is and it makes it that much more relatable to your topic. Using the numbered list in you blog made your post much easier to read and it look nicer than just using a full paragraph.
Rachel Ciarleglio
October 4, 2009 at 8:42 pm