Job Scenario In US

Unemployment did decline in July too, but only to increase in August, September and October. My suspicion is that this time, unemployment is close to its peak, and this is the beginning of a long, but slow, improvement in the labor market.(Job portal USA)

The Organization for Economic Cooperation and Development is forecasting that unemployment in the U.S. will peak in the first quarter of 2010 but won’t fall below 9 percent until the fourth quarter of 2011. This seems about right.

Also encouraging was evidence that the pace of job losses had slowed. But this should be tempered by the fact that there is little evidence of job creation. Employment still is falling in manufacturing and construction. The main sectors where job growth is occurring are health care and temporary-help services. Not much, but it’s a start and the best news in the U.S. labor market since the spring of 2007.(Part Time Job USA)

Looking for Leaders

To be convinced that a decent recovery is established, I’m looking for strong job growth in some sectors -- a construction- led boom, for example, would see the number of construction workers growing. To this point it is unclear which industries are likely to lead a recovery. It’s hard to see financial services or construction being among them.

The decline in economic output has been 4 percent in the U.S. from peak to trough, compared with 14 percent in Ireland, 10 percent in Japan, 8 percent in Sweden, 8 percent in Germany and 6 percent in the U.K. In the cases of Japan and Germany, greater dependence on exports has hurt output. The run-up in housing prices was more pronounced in Ireland, Spain and the U.K. than in the U.S.

In spite of these output numbers, the U.S. has few rivals in terms of the recession’s impact on jobs. Among OECD members, the U.S. had the third-largest increase in unemployment, 5.8 percentage points to its October peak of 10.2 percent, behind only Spain (11.4 percentage points) and Ireland (8.5 percentage points). By contrast, the unemployment rate has risen by just 0.4 percentage points in Germany, 1.6 percentage points in Japan and 2.7 percentage points in the U.K


Unemployment hurts, and not just the unemployed. The empirical evidence from around the world suggests that in normal times, a 1 percentage point increase in unemployment has twice the effect on happiness as a 1 percentage point increase in inflation. In these deflationary times, an increase in inflation may well raise our happiness rather than lower it. So the central goal of economic policy right now should be to create jobs.(Corp-corp jobs USA)

There has been some improvement in economic conditions since September. Governments need to keep the stimulus going. It is all about jobs

High paying jobs USA