This article states that even though the end is near, it still seems so far away. The prediction is that more jobs will soon be available but job growth hasn't happened just yet. A strong sign of growth is the increase in GDP in the fourth quarter compared to the third quarter in 2009. GDP in the fourth quarter was 5.7% compared to 2.2% in the third. This is a dramatic increase, and a great sign that the recession is beginning to fade away.
Even with the economy being on the rise, and the positive prediction of jobs growing in 2010, there is still an issue with jobs in the long run. Since larger economic expansions are needed in order to decrease the unemployment rate, more frequent recessions are likely to occur in the next decade which will effect the decrease in unemployment. Therefore, the Fed needs to be careful with their actions so that it helps the business cycle continue to grow, and not stay idle or even worse, continue to fall.
I think this article aroused a more meaningful question compared with other articles’ contents, which are mainly talk about the current situation of labor markets; some are optimistic about the current labor markets, and some are still worried about it. In my opinion, what is really important is just as the title of this article “Jobs will grow in 2010, but then what?” Since, the economy is in a phase of recession, therefore, it is very important to make a long-run plan.
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