| Author | Message | ||
     Ashton Side Hero Username: Ashton Post Number: 2387 Registered: 05-2008 Posted From: 66.84.38.88 Rating: N/A |
http://money.cnn.com/2009/10/30/news/economy/when_will_jobs_ return/index.htm Despite the first signs of economic growth in more than a year, many factors will keep a jobs recovery from occurring for a long time. NEW YORK (CNNMoney.com) -- The economy is growing again. So when are the jobs that go with growth going to get here? Not anytime soon, unfortunately. The consensus forecast is that job losses will continue through the end of this year, with many economists not expecting unemployment to peak until next summer. That will add to the 7.2 million jobs already lost in this downturn. Even with Thursday's report that showed the economy grew at a 3.5% annual rate in the third quarter, the continued job losses are not a shock. Jobs are what are known as a trailing or lagging indicator, meaning that they change in response to other economic events, rather than predicting changes the way a leading indicator, such as the stock market, does. That's because even after a recession has ended, employers are slow to add staff until they're sure that demand has returned. The real worry is that the deepest and longest recession since the Great Depression will be followed by a jobless recovery, just like what happened after the recessions in 1990-1991 and 2001. V-I-K-I-N-G-S Skol, Vikings, let's go |
