Friday, September 14, 2012

Who's Hiring? Blog 3, Lakeisha Richardson

If you have been following the election you will see that unemployment is one of the main topics in this year’s presidential election. Aaron Blake of the Washington Post says it’s “the most overrated stat of the 2012 election.” Living in the United States, you know what problem unemployment has been. Unemployment is not only a problem in the United States, but in many other countries around the world according to a news article by Fox Business. The quarterly survey by Manpower Group a global employment firm showed that 26 out of the 42 countries assessed would hire fewer people in the fourth quarter than they did last year. Jeffery Joerres, chief executive of Manpower Groups states if uncertainties such as the debt crisis in Europe, rumblings of a slowdown in China, the U.S presidential election and healthcare costs, keeps stacking up the steady hiring mode would come to a pause. The good thing is that according the report, there is not any expected widespread layoffs. In Japan, employment intentions are recorded to be flat. China employment index intentions are three points lower than the third quarter and seven points lower than last year. Recent bank bailouts, the Eurozone debt and measures taking by the government to lower ballooning debt is making business in Europe very cautious.
What does this say about families? If families cannot work, they cannot support themselves. The United States have very few families living in absolute poverty, but other countries are not so lucky.  It is expected that every family move up or down the social class latter by 1. If hiring rates continue to go down or stand still, those families seeking employment will have a harder time finding employment and staying out of poverty, yet a lone moving up the social class latter. With all the social forces affecting the economy, business are going to turn to the most cost effective way to do business. This includes hiring last people, or even outsourcing.

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