How to Avoid Unemployment in Society

- By Kevin Yu

Since 2007 (December), I have been hearing job layoffs from the news. Recently, I believe the situation has got worst with overall unemployment rate stands at 7.2 percent, a 15-year high according to Bureau of Labor Statistics. There are seven steps of how to avoid getting fired:

Step 1
Improve on levels of education by training job creators instead of job seekers.

Step 2
Maintain political stability in order to attract more investors who can invest in different businesses.

Step 3
Promote agriculture and farming mainly in rural areas to improve employment opportunities.

Step 4
Promote exports instead of imports in order to increase on national income which can lead to future employment opportunities.

Step 5
Promote industrial development by using land tenure system and tax holidays in order to attract both local and foreign investors.

Step 6
Promote sports, music and drama to enable the youth get employed.

Step 7
Extend credit facilities mainly in rural areas to help the poor get access on finance through loans and grants in order to start their own jobs.

Sources

1. http://www.mint.com/blog/moneyhack/a-visual-guide-to-the-financial-crisis-unemployment-rates/

2. http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3166706/Financial-crisis-Rising-unemployment-on-the-way-as-recession-looms.html

3. http://www.ehow.com/how_2161379_avoid-unemployment-society.html

Job Losses Pose a Threat to Stability Worldwide

- By Kevin Yu

From lawyers in Paris to factory workers in China and bodyguards in Colombia, the ranks of the jobless are swelling rapidly across the globe.

Worldwide job losses from the recession that started in the United States in December 2007 could hit a staggering 50 million by the end of 2009, according to the International Labor Organization, a United Nations agency. The slowdown has already claimed 3.6 million American jobs.

High unemployment rates, especially among young workers, have led to protests in countries as varied as Latvia, Chile, Greece, Bulgaria and Iceland and contributed to strikes in Britain and France.

Last month, the government of Iceland, whose economy is expected to contract 10 percent this year, collapsed and the prime minister moved up national elections after weeks of protests by Icelanders angered by soaring unemployment and rising prices.

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Unemployment rates up, State funds low.. will $825 billion be enough??

Written by: Stephanie King

As the global economy continues to take a deeper plunge toward the bottom, unemployment rates are continually rising to its highest in decades. With the massive amount of company layoffs in the past couple months, it is not surprising that filing for first-timer unemployment benefits have increased dramatically from 62,000 to 589,000 in one week of January alone. More than 2.6 million jobs have been lost in just 2008 alone, a record high since 1945. Unemployment rates have been reported by the U.S. Department of Labor to have increased in all 50 states for the first time in history since 1976.

As these unemployment numbers continue to increase, so will the number of filings for unemployment benefits; gradually decreasing funds for states. Indiana, New York, South Carolina, Ohio and Michigan are borrowing funds from the federal government to pay for these benefits due to insolvency. As the unemployed continue to receive benefits, the states are suffering. It is estimated that 13 states are at "major risk" of insolvency that will leave them with about eight more months or less of funds to provide benefits. These states include: New Jersey, California, Kentucky, Missouri, Wisconsin, North Carolina, Rhode Island, Arkansas, Pennsylvania, Idaho, Minnesota, Connecticut and Illinois. Wisconsin is predicting that the state’s unemployment benefits reserve will be used by February. With the shortage of benefit funds, states will make it harder for filers to collect these unemployment benefits. Therefore, states will be potentially raising the minimum earnings needed to qualify, disqualifying a large number of people from benfits, such as part-time or temporary workers.

President Barack Obama’s push to pass the $825 billion stimulus package will be able to provide some relief for these states to cover some of the interest from these federal government loans. It is believed that this package will help create three to four million jobs. Although, some critics argue that it will not be enough to bring back the economy to life and aid these states to continue helping the unemployed.

Sources:

http://money.cnn.com/2009/01/22/news/economy/jobless_claims/index.htm

http://money.cnn.com/2009/01/27/news/economy/state_unemployment/index.htm

http://1410wizm.com/news.php?action=fullnews&id=2127