Posted on: 20-12-11 22:57:34
I was the one who had written about the collapse of the US economy and also subsequent effects on Canada a few years ago on this very site. This was ridiculed by many a fellow desis and when the collapse happened many of them disappeared from this very site.
Now I'm writing about the recovery of the US economy based on various economic indicators coming out of USA it is now projected that the US economy had bottomed out and since the last few months it is coming back for good.
The unemployment figures across the country is improving and in some locations it is around 3.5% versus national average of 8.6% which was earlier about 9.5%.
The housing sector is on a rebound and this is definite good news for Obama.
The real issue(s) are that whether it'll ever be able to come back to type of economy during 2007 is questionable.
The employment generated is also in energy, construction and retail sector. The innovation sector might have shifted to emerging economies.
This is definitely good news.
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Sunny Leone a true Canadian DESI now back in India !.
Quote:
Originally posted by Vandematram
I was the one who had written about the collapse of the US economy and also subsequent effects on Canada a few years ago on this very site. This was ridiculed by many a fellow desis and when the collapse happened many of them disappeared from this very site.
Now I'm writing about the recovery of the US economy based on various economic indicators coming out of USA it is now projected that the US economy had bottomed out and since the last few months it is coming back for good.
The unemployment figures across the country is improving and in some locations it is around 3.5% versus national average of 8.6% which was earlier about 9.5%.
The housing sector is on a rebound and this is definite good news for Obama.
The real issue(s) are that whether it'll ever be able to come back to type of economy during 2007 is questionable.
The employment generated is also in energy, construction and retail sector. The innovation sector might have shifted to emerging economies.
This is definitely good news.
If it is true then question is how long it will be sustained. Since elections are coming, figures might be manipulated.
Unemployment rate is based on the number of people filing for benefits. What about those who have ran out of benefits? They are forgotten and not taken into account. Part time work during Christmas, snow removal, landscaping (by Mexicans) are not part of the whole picture on employment. USA has long way to go. Now Obama is pushing for a bill on BPO/call centres. Indian Inc has already started lobbying against the bill.
KM
Most of the jobs are low paying jobs. Innovation jobs are moved to emerging economies.
