JUST AN S.O.S ...

"I've made the point that employment is often the last thing to come back after a recession, and that's what history shows us," Obama said.

As the economists predicted, this year has the highest unemployment rate since June 1983. The job market is getting worse, some economists forecast in a survey that the net loss would be 175,000 jobs. During 21 months consecutive, 7,2 millions people has lost their jobs.

According to John Silvia, Chief economist with Wells Fargo Securities said the shorter hours and the downward pressure on wages are a major concern. He also declared that « The longer people are without a job, the more difficult it is to pay their bills, their credit cards, their mortgages and home equity loans. » « That hole keeps getting deeper and broader too, affecting more households. This isn't just a blue collar recession. » Even if a person find a job, it would be very difficult for him to start spending again and has a stable financial situation.

The job market is facing a real problem as 5,4 millions people are jobless and this shows the failure of the american economy system. This is the worst financial crisis that they have been through and they are having difficulties to find a way out. Unemployment is not helping to solve this problem due to a decline of 53,000 governement jobs and they have to count on private sectors to create more jobs.

« No panic about this survey. It's not really not getting worse in most respects. »

We will soon see the end of job losses and that mean the end of the crisis. Let's hope for the best!

Marie-Ange Louis

Jennifer Bourand