The government says the nation's unemployment rate bolted to a 14-year high of 6.5 percent in October as employers slashed 240,000 Right approach for different stages of career
jobs. It was stark proof the economy is almost certainly in a recession.
The new snapshot, released by the Labor Department, shows the crucial jobs market deteriorating at an alarmingly rapid pace.
The jobless rate zoomed to 6.5 percent in October from 6.1 percent in September, matching the unemployment rate in March 1994. Employers have cut jobs each month this year.
The struggling US economy had lost 159,000 jobs in September as the credit crunch hit a broad swath of industries.
When people lose their jobs, they tend to pare back family budgets and fall behind on their debt - not a good prospect for an economy suffering a simultaneous credit crisis and spending slowdown.
Traders were meanwhile betting on further interest rate cuts by central banks around the world. On Thursday the European Central Bank reduced eurozone borrowing costs by a half percentage point to 3.25 percent.
Source: EconomicTimes
Friday 7 November 2008
US jobless rate at 14-year high of 6.5%
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Jobless rates today bolted to an eye-popping 6.5 percent. This tells of many things but 2 things in particular – 1) Businesses both large and small are struggling and 2) after we reach the bottom of this recession, there will be many positions to be filled by companies, large and small.
ReplyDeleteListen to the tone of airwaves, minus the recent election of President-elect Obama, everything has been so negative! Honestly, think about how negatively our society portrays almost every situation. Acquiring a negative perspective is easy, but stand up and make a statement about yourself – tell yourself you will not victim to this negative jargon! If you find yourself in a hole, ask yourself this question: what will more likely improve your chances of being successful – continuing with a negative outlook or transforming your thought patterns into a positive outlook?
I work with many high level c-level executives that have experienced tremendous success in their life. The one binding characteristic between all of them is that they do not let external, uncontrollable factors influence their inner dialogue and visions for future success. In fact, many of these people use a vision board – a collage of images that symbolize personal goals success - to help them keep focused on their positivity and desired outcomes. I might suggest using one yourself if you are currently in a rut. You should look at the helpful information on how to make one over at www.TheVisionBoardKit.com.