State Unemployment Numbers Improve
August 21, 2009 by Miranda Marquit
Filed under Finance
The unemployment picture is starting to improve in some states. According to the Labor Department, 17 states saw a drop in the unemployment rate. Only 5 states saw this drop in June. Even though increases were reported in 26 states, there is hope that the slowly improving picture may signal a true slowdown for the recession.
Indeed, some executives believe that we have reached the bottom of the recession, and things should start improving soon. Unemployment is one of the major indicators of economic health. Not only does unemployment reflect on the business climate (if you have to lay people off, you might not be in very good shape), but it also has other implications about the economy — implications that can come back and affect businesses.
With people losing their jobs, they are less likely to be able to buy things. Consumer spending is an important part of the economy, and of course, an important part of corporate finance. It’s impossible to get the capital you need and keep the business running when people aren’t buying your goods and services.
From this standpoint, it is vital that we see improvements in unemployment. The picture is still a bit distressing. Jobs are being lost, after all. However, if some improvement continues to be made, we will eventually make our way out of this recession and find economic growth again.
Image source: CNN Money
I wish there was a reset button for us humans. Because the bills, the desires, the need to be loved by whomever has gotten us tangled in mAdNesS! People! get together with those who know you most and share what each person is good at, instead of bitching about how life sucks. Use sites like ResumeRace where others from your job sector rate your resumes. Watch movies that you can identify with. The point is to discover who you are, so that when you work, your contributions will be more powerful, and the world will be more abundant because you were true to yourself.
I’d be very skeptical of the labor department figures. Too many people being dropped into the “too discouraged to look work” categories to gerry rig the employment numbers higher.
The only employer hiring in my area is the Federal Government. They’ve got to do something with all their borrowed money.