Sunday, January 10, 2010
Week 4: New Year - Obama Administration
It is the start of a new year, and according to many economists, the economic recession is ending as measured by an increase in Gross Domestic Product (GDP). However, even though we are undergoing economic recovery, the job market is still grim. There was a loss of 85,000 jobs last month, although that's not as bad as in past months. There is still at least half of the original stimulus money to be spent so it is likely that job growth will increase over the coming year. The job market will still not be as good as in past years prior to the recession, but the trends will be positive for job and business growth. Hopefully, the job growth can be in new green industries that will also help address climate change.
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I also think the recession is not over but it's good to know that the economy is not as bad as it was months before. I totally agree with you when you say it would be better if the job growth is in new green industries so we can help address climate change, since we don't always realize how global warming is affecting our society.
ReplyDeleteHooray for green industries!
ReplyDeleteIt's nice to see some proof that times are getting better, albeit gradually, so people do need to realize that there's not going to be one defining moment to mark the economic turnaround. That said, the lack of jobs thing really needs to be addressed because more jobs = more money for people = more money spent. I just wonder why they aren't creating jobs like FDR did back in the day.