Tuesday, February 9, 2010

So Where Are the Jobs?

According to the article, eight million jobs have disappeared since the recession began in December of two thousand seven and recent recoveries have been slow to create jobs. Jack Strauss says "Historically, during our last two recessions in ninety-one and two thousand one it's taken twenty-three months in ninety-one and about thirty-six months, three years, in our last recession in two thousand one for the United States to regain the jobs lost in the recession."

The Obama administration is putting money into transportation to speed recovery and the administration is giving a tax credit for first-time home buyers to help the housing market. These two programs fueled a lot of the recent economic growth.

In my opinion, recovering economy is difficult and deflation makes a vicious circle in Japan. People should try to purchase some expensive products and company should not sell 900 yen jeans even though it is selling well.

http://www.voanews.com/specialenglish/archive/2009-11/2009-11-06-voa2.cfm

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