BBC.co.uk has just reported that the unemployment rate of the United States has risen from 5% to 5.5%. Considering the USA is the world’s biggest economy, news such as this is a shocker in all areas. Unemployment in the end will give way to lower purchasing power, which later feeds into industry stalls… hard-core recession.
The rise by .5% happened in just this May 2008. Analysts have recorded it as the fastest in two decades.
The US Labor Department said the economy lost 49,000 non-farm jobs.
It follows a 28,000 decline in April, and will fuel fears the US economy is sliding towards recession, analysts said.
The worry is that a weak labour market will see consumers rein in their spending, hurting corporate profits.
The poor data rattled the stock market, with the blue-chip Dow Jones index sliding 1.79%, or 225.70 points, to 12378.75 in afternoon trade in New York.
(from BBC.co.UK)
Related Articles
- Retirement: A Luxury or a Right?
- UK economy improving
- Unemployed seek casino jobs
- Ten myths about career planning
- Oxford street sales rise because of “pedestrianisation”
In The News
The WikiLeaks Saga Goes On: New Data Center in Bunker
Every once in a while, something big breaks out and the whole world is caught up in the mess. The most recent worldwide source of a lot of yakking is WikiLeaks, the web site that is releasing juicy secrets of the United States government. Whatever you may think of the issue, the fact remains that [...]
Business and Money
How To Save Money When Grocery Shopping
Shopping for groceries is one of the things my family looks forward to every weekend. We usually go grocery shopping at one of those really big supermarkets that have everything from sugar to televisions to sofa sets. Aside from being able to go out for a change, the kids get to experience firsthand how it [...]
Lifestyle and Leisure
Three Tips for Beating Lifestyle Inflation
People often assume that getting a substantial raise will help ease their financial burden. Unfortunately, once the raise arrives, these very same people often find themselves still struggling to make ends meet; living from pay check to pay check. Puzzled over their predicament, they end up working longer hours to make even more money, not [...]
Entertainment
3D TVs and Giant Screens: Are They Worth It?
Not too long ago, having a flat screen TV was still something of a novelty. Nowadays though, with LCD TVs getting more affordable and LED TVs getting bigger, having a flat screen TV is not something new. In fact, you’ll see flat screen TVs everywhere. The only real TV screens that perhaps can inspire awe [...]
Travel
Enjoying Your Trip Despite Fake TripAdvisor Reviews
If you are among the millions people who, like me, use TripAdvisor to check out and compare accommodations before booking a hotel, you might want to learn how to spot fake reviews. According to Cornell University researchers, the top signs of fake reviews include: a narrative account of a holiday, excessive use of superlatives, and [...]
Family Life
Reconciliations Are the Way (To Get Rid of Anger)
Reconciliations heal the soul. Strife and tension never was anyone’s cup of tea. I know that most people seem to be able to stand decades of their lifetimes bitter, angry, and unforgiving of the people who have hurt them, but I am of the belief that unforgiveness and anger should never be the hallmark of [...]
From the Editor
Is College Necessary Any More?
With a newborn son whose life I’m projecting way into the future, I’ve been thinking a lot about college lately. In the United States, going to college is the social norm. Everyone goes to college (pretty much). But should they? Let me point to three reasons why college is no longer necessary for success. 1. [...]
SUBSCRIBE
Via RSS Feed- Women Approach You
- Apartment District’s Blog
- The LA Fashion Magazine
- Language Express – Learn Thai In Bangkok
- Colordarcy’s Overseas Property Blog
- Degrees That Won’t Get You Hired
- Freelance Writers and Copywriters Needed
- Freelance Bloggers and Writers Required
- Bloggers and Freelance Writers Needed
- Writers and Bloggers Wanted
CATEGORIES
CONTRIBUTORS
AROUND THE WEB
Bloggy Awards
Blogger Jobs
One Response
Debt And Stress Linked Together | Health Blog
10|Jun|2008[...] just how disastrous the link between debt and stress is. As you can see from the figures, the result of debt can be more than stress. Physical illness actually results from [...]
Leave a reply