Asia Bizz: US Unemployment: Total Unemployment Rate 9.6% Is Very Disheartening
The Unemployment rate in the US has reached at 9.6% in the month of August, and has proved to be a very disheartening month for the people who have lost their jobs. Public and private employers have consistently shelled out their employees who had been hired for work in August.
The picture in the Federal Government jobs too is not so right, as there has been job cuts there on regular basis, as the terms of the hired people have started to expire. American payroll jobs fell by 54000 and the government jobs went down by 121000, and total number of 67000 jobs in the private sector were lost in the month of August.
Job creation in the US looks very grim, as this case shall continue, then the American government may see another phase of recession in the coming months and may be sooner. People who had their temporary jobs with the private firms, too are being hedged regularly to stabilize their firms. Its all together a sad scenario in the US economy for the moment, and it now depends on the American government to come up with concrete solution to tackle this.