Sunday, March 16, 2008

Why U.S. Lost 63,000 High Paying Jobs Last Month

The great US, first world country, lose jobs for its people at such a high number in only a month! That is strange right?

You might think that I am kidding you. Truth is I’m not. And another truth, that country is undergoing a recession – a big time recession!

Now I don’t want to talk about plain statistics, no body wants that. Instead I will share what experts believe to have caused this.

  1. Weakening Job Market – few people are actually looking for work
  2. Lower Value of Homes – there are simply too many houses in America, and as you may already know, houses are liquid assets, they have value but their value doesn’t contribute to the economy
  3. High fuel costs – blame the previous war in the Middle East? Too late for that. Other factors may also be considered as to why the price of fuel is too high, but this post will not cover that.
  4. Strict Lending Rules – there are mortgages and bank loans, but how are you going to pay for that? People cannot and so their assets are liquidated. Frozen assets, and there is no tangible and circulating money in frozen assets.
  5. Slow Consumer Spending – people are trying to tighten their belts, and when they do, economy will have to fit on an extra small sized shirt!

Now tell me, what will you do with your high paying jobs because of this incident?

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