Professions in Recession
Being aware of the unemployment rate can make people nervous or uneasy about the future. If the state does not open enough jobs for the public, the number of people without jobs may rise. Businesses such as the construction industry or fast food franchises hire many people each year and try their best to keep people employed. Despite the number of jobless people, the state may continue to offer new jobs to them hoping the rate of unemployment will lower significantly.
Major states such as Massachusetts have had their unemployment rate rise .1% from September to October from 6.5% to 6.6%. Despite their losses, Massachusetts brought forth different professions that have nursed the unemployment, but not necessarily cured it.
Jobs in O’Fallon may be hard to acquire, but the industry remains looking for workers. Taxes on consumer goods play a big part of unemployment because some people do not make enough money to pay for their necessities. Industrial companies should hire more workers and try to bring back the economy to good health starting with one city at a time.
Major industries are engulfing jobs by eliminating smaller jobs without competition. Major companies offer jobs to people who need them, but on they also give smaller, perhaps home owned businesses a hard time competing in economics. Competition within the industry can benefit some but hurt others too.
Generally speaking, people have an urge to have the newest, shiniest, best product there is on the market. Being unwise with their money, people can invest in loans for something they want, not necessarily what they need, and fail to repay the banks. Thus, this leads to people being in debt. People in general should be careful with their money because there could be an economic crash at anytime
Unemployment hurts a nation no matter what angle people look at it. To not be employed is only one element of a struggling nation. Keeping faith and looking toward a new tomorrow is a good mindset to have in the economy today. Improvement in the industry will come but it may take a while. Looking forward to that time is what many people continue to question and criticize. Improvement may not come in this generation, but I believe it will someday.