Even as India continues with their hiring spree, the US market is reeling from the recession's deadly attack. The percentage of unemployment has now reached to ten percent - for the second time since World War 2. It begun to look more hopeful before it relapsed back into its depressing mode of op.
Millions of unemployed in the United States are of the sentiment that no recovery is on its way. The estimation lies in mid-2010 for the hiring to be resumed. Experts say that the unemployment rate will come down to a more normal three to five percent in the next four to five years.
The 1930's recession seemed to have relived itself in 2009, and it looks like it may finally be coming to an end, even though the recovery period is expected to remain around awhile yet. The recovery apparently isn't expected to be strong enough to breach the loss of jobs and revive small and start-up businesses again. It looks like the unemployed may be out of work awhile longer.
As of now the record for jobless people for six months or more, is set at a whopping five point six million. Few employers are being risk-taker enough to begin hiring once again. Salary packages have been slashed and raise-percentages promised are being postponed for awhile to come.
October 2009 was the twenty-second consecutive month that the United States economy has lost jobs. It is a depressing time to be left jobless with the holiday season around the corner and the shopping lists are being made. There is validation that joblessness is full on track, no matter what specialists or government bodies may say.
Based on a survey of company payrolls, the Labor Department said that the economy had shed 190,000 jobs in October alone. Another survey conducted on households showed that 558,000 additional people were unemployed last month from the month before it. The total count now is that 15.7 million American citizens are out of work.
Small businesses and start-up companies seem to be among the hardest hit with little prior financial stability to fall back on in times of difficulty.
As you know, accounts & finance jobs were the first to go out of the market when the recession hit with its deadly financial global meltdown, but research says that finance jobs are back! Whether or not there is a general ten percent unemployment rate, finance jobs are slowly creeping back into the market. Hooray to those in finance! Your luck is turning around.
The financial services sector is beginning to grow and hire and the accounts finance jobs, healthcare, IT and ITES sectors are also slowly going back into hiring mode. Companies are advertising for their hiring sprees and candidates in India are once again looking hopefully.
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