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Job market: The field where the employment seekers and the companies are related
Recession:a widespread decline in the GDP and employment and trade lasting from six months to a year
Job Security: the probability that an individual will keep his or her job
Throughout the course of America's current recession, many people have lost their jobs or have been laid off. This rate has been a continuous downward spiral until recently, when the job market appears to be experiencing a turnaround in concern to employment. However, regardless of this apparent turnaround, those with jobs still fear that they may lose their job or be laid off. According to a recent Gallup poll, 21% of American workers believe that there is a strong likelihood of losing their jobs in the next 12 months. The percentage of workers who believe they have strong job security is at it's lowest level since Gallup first introduced this poll in 1975.
I do not agree with this article. I think that people have fair reason to be anxious of losing their jobs; the rate of unemployment continues to soar with new claims occurring often. I predict that the recession will continue to have a negative impact on our economy until we hit rock bottom and have no choice but to tread on a rise. Since the American economy has not reached that point, it will continue to struggle.
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Rosette, could you explain how we figure out the unemployment rate? Also, how many new unemployment claims were filed this month? And how many new jobs were created or were lost? (you should be able to use google to answer these questions) What does this have to say about the future of "layoff anxiety" in the coming months? Will it decrease or increase based on these statistics?
ReplyDeleteTo configure the unemployment rate, the Bureau of Labor Statistics (BLS) Branch of the Government conducts a monthly survey called the Current Population Survey, which measures the extent of unemployment in the United States. (http://www.bls.gov/cps/cps_htgm.htm#why)
ReplyDeleteThere were about 456,500 unemployment claims in the month of May. (http://www.dol.gov/opa/media/press/eta/ui/current.htm) But there were also 503,000 new jobs created in May. (http://www.reuters.com/article/idUSN2821410620100528)
With more jobs created compared to those jobs that were lost, the layoff anxiety will somewhat persist, but people may have a better attitude towards finding work. In the next coming months, I think the layoff anxiety will lessen more and more, and workers will have better confidence in the economy and finding jobs.
Why do you think 21% of American workers fear there is a liklihood of losing their jobs in the next 12 months?
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