I admit that the title I gave the title to create some excitement in the mind of my readers but unemployment rate of 11% should not be in a state like California. After all, it is among the richest states in America. Secondly, it has both Silicon Valley and Hollywood and a very flourishing agriculture sector. So, what is going wrong? In any case, 11% unemployment is perhaps too high for any rich country. Condition of some other US states is not good either.
The national unemployment rate for USA in April was around 9% and it is not good either. Of course, in some third world countries this rate can be almost 25% or even 30%. So, USA is not becoming a third world country. However, the reality is that if the US economy has to go out of the economic recession then more jobs have to be created first.
Hello, I have been thinking about this for some time: "America is controlled by the rich". Sending work overseas to save a dollar, to not have to deal with so called greedy US workers. Quash the unions, what's left of them, not pay health care etc etc. Not always is this true but for most part is. Do you think these millionaires and billionares care if our country is in the pits? Just get that stock market and pull our companies out with US tax dollars. Our government helps the rich also. All they care about is putting the poor middle class and poor into the Chinese owned Walmart: and unfortuanately China owns the US now.
ReplyDeleteSome say unemployment is over 20% and the Bureau of Labor Statistics
ReplyDeletenumbers are flawed. It has been reported in a Pittsburgh newspaper that
that there are 49 million people that have a hard time feeding themselves.
16% of the total population in poverty. At least 35 million on food stamps.
Depression is a good word for the present economic blight in the US. By
January, 2010 and the spring to follow the disaster will be more clear.
Following the Christmas lay offs.