Sunday, February 21, 2010

“Millions of Unemployed Face Years Without Jobs”

Vocabulary !!

public assistance- a benefit or benefits from a state or federal program.

unemployment- The state of having no job; joblessness; The phenomenon of joblessness in an economy; The level of joblessness in an economy, often measured as a percentage of the workforce; A type of joblessness due to a particular economic mechanism; An instance or period of joblessness.

expansion- Growth, as in an economic recovery.

https://secure.childsupport.dhs.state.mn.us/whomc/Action/Links/GlossaryMews?printable=true
wordnetweb.princeton.edu/perl/webwn
http://www.investorwords.com/1838/expansion.html


More and more middle class Americans are loosing their jobs, and has put them in the category of being "the new poor." This might be shocking to some, since they have thought that the economy was progressing but in actuality people are still loosing jobs. These people now have to rely solely on government assistance for the first times in their lives. Roughly 2.7 million jobless people will lose their unemployment check before the end of April 2010 unless Congress approves the Obama administration’s proposal to extend the payments. People have been affected by this drastically having to choose food and housing over prescribed medications needed to sustain her health, or going to food banks for all groceries. Over 6.3 million Americans have been unemployed for at least six months or longer, this has been the largest number since 1948. Traditionally, there are three sectors that have led the way out of recession: automobiles, home building and banking. Auto companies have been shrinking because strapped households don't have as much buying power. Home building is limited by fears about a glut of foreclosed properties and they are not confident enough. Banking is expanding, but this seems largely a function of government support that is being withdrawn. On average, only two-thirds of unemployed people received state-provided unemployment checks last year, according to the Labor Department. The rest either exhausted their benefits, fell short of requirements or did not apply. Also, these checks are are not enough to supply their every need! It is hard for people to survive comfortably with these wages. These people, are trying too. They apply everywhere and are not being picky and they are still not able to find jobs. I think that if the Obama' Admininstration approves the extension it will help a lot of people get by for another six months. I know this only will solve the present issue but if they create more jobs for people than I think it would solve more problems. Perhaps they could work with the large corporation and stop importing goods. A lot of major corporations are only worried about profits but if they somehow gain a heart than maybe our economy would be more stable.

1 comment:

  1. the link to the article is :)... http://www.nytimes.com/2010/02/21/business/economy/21unemployed.html?scp=7&sq=welfare%20&st=cse

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