Resume & Career Advice

June 21, 2010

The Good, the Bad and the Beautiful: An Update on the Economy

Filed under: Employment,Recession,Unemployment — chris2010 @ 10:25 AM
Tags: , , ,
Surviving the Recession

Are we now back on track?

There still remain a lot of things to complain about, but that doesn’t mean we can’t heave a collective sigh of relief.  If the 162,000 additional jobs ushered in by March is any indication, things are definitely getting better.  After two years of living under the worst depression since the 1930s, we can now perhaps say that life is good again: People are earning more and buying more cars, factories are being asked to produce more goods, and malls are reporting an increase in sales.  Canada looks just as promising.  With all the positive signs of a better economy, there are those who maintain that the recession is practically over.

The economy is indeed looking up, the problem is if it will stay that way.  Early in 2010, analysts feared a double dip: that the economy will get better before going bad again.  One economist particularly pointed at the second half of this year—when stimulus starts to fade—as the beginning of the second wave of recessions.  So, we may not see signs of falling now, but it could still happen.  In fact, even if we don’t get any worse, positive changes could be very gradual, at best.  We are still poorer now and have fewer jobs than earlier in the decade.  Times may be better, but are they really “good?”

Still, the beauty of an improving economy is it makes it easier for everyone to chip in, to do their part to further improve our situation.  White House Chief Economist Christina Romer decried people who “talk about unemployment remaining high for an extended period with resignation, rather than with a sense of urgency to find ways to address the problem.”  Which attitude are we going to adopt?

This vivid chart of US unemployment rates shows that we’re a long way from the good ol’ times.  But if nothing else, this present economy has given us a chance to help ourselves.  As part of the number of people who are either employed or unemployed, we can help.  We can find ways to address the problem.  Proving ourselves highly qualified for the jobs that employers are offering—even for those which they are not—is a good start.  Let’s help employers help us.

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2 Comments »

  1. Little window of hope! The economy is sooooo bad right now. A lot of qualified, good people are without work and I hear many hopeless cries from jobseekers of not being able to find a decent job.

    Is the economy ever going to get better? If so, then when? I think its going to be a long time before everything is right again. I’m afraid the PowerHouse United State’s has lost its lead.

    Then again~at least we are not the only country, citizens suffering from this economy…(sigh…)

    Comment by KnowledgeCity — July 7, 2010 @ 3:35 PM | Reply

    • True, US isn’t the only country suffering the blow. The best thing that we can do is to make the most of what hopefully has already been the worst (hopefully things don’t worsen further). I’m sure everybody is learning a lesson and these times are surely an opportunity for that. We shall make it through :).

      Comment by chris2010 — July 7, 2010 @ 8:29 PM | Reply


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