Sunday, May 10, 2009

Labor Department official analyzes April unemployment numbers

This article informs about unemployment numbers in the United States for April. Unemployment is very important, especially in times of recession, because the information tells people how many people searching for jobs are unemployed. Overall, the US incurred many job losses, especially in construction and manufacturing. However, health care and government employment increased in the month of April.

The US is having a problem with rising unemployment numbers, and it is not surprising to people that unemployment is going up, because it is cyclical unemployment (meaning that people are losing jobs because of economic conditions). However, the rate of unemployment is steadily decreasing and hopefully the job market will turn back within this year.

This connects what I learned in Economics that the market goes in booms and busts. The classical economist would say that unemployment will naturally go back down over time, and the Keynesian economist would say that some government intervention will set the market back on track.

http://www.bizjournals.com/denver/stories/2009/05/04/daily82.html

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