This is surely bad news: 10.2% unemployment figure in America. It shows that the impact of economic recession is still there although big companies are earning good money. The stimulus package of President Obama is surely giving some positive feedback in the economy but he has to fight against the growing trend in losing jobs among ordinary people. 2010 is the year of election in USA. The Congress election will take place and it will be a very big problem for Obama and his Democratic Party if he cannot do something about this matter of rising unemployment in USA.
The stimulus package has surely helped to stop the recession from going to worse condition and there is now a sense of hope of economic recovery in 2010. The hope has increased because the major tech companies like Apple, Google and Microsoft had good earning in the last quarter. So, the mood in the share market is now some upbeat. Obama has signed a law to give homebuyers some tax break and this may encourage more consumers to go for buying homes. I would like to remind you that it was from the real estate sector that the seeds of the economic recession started.
Creating jobs is never easy. Especially, at this time, consumers are worried for their future. If job loss continues then people will be afraid to spend money. If people do not spend money then businesses and companies cannot sell their products and services easily and generating jobs will become impossible. It is like a vicious circle and I hope that it finishes in USA soon.
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