6.1% Highest Rate of Unemployment in 5 Years

Companies have come out with plans of cutting payrolls because of the terrible economy. Workers from financial services, airlines and even from manufacturing can be home with out work because businesses want to keep making profit. In order to keep making profit companies have announce cutting down on salaries and benefits for workers. These companies believe that cutting jobs can help them grow once economy begins to recover.

In 2008, 550,000 people don’t have a job which makes 6.1 % the highest rate of unemployment in 5 years. Analysts have advice companies to be careful because dismissing to many employees can really harm the company. Dismissing skillful workers can leave companies behind in the competition and once it has to rehire they have to retrain new workers, therefore slowing production.

Analysts also advise companies to teach the workers how to reduce expenses and maybe even give workers that option of working in a different position while the economy recovers. The "no lay offs" policy protects workers from getting fire just because the economy is in bad conditions. In fact Staffers has ideas about how to get work done efficient and in less expensive ways. On the other hand you have economist for JPMorgan Chase who thinks that the U.S has at least six more months until the economy begins to recover.

This election had been the hope of the people because the right candidate can only really help the economy, so pray that people think for everyone else and make a difference.

http://news.yahoo.com/s/ap/20080906/ap_on_bi_ge/wall___main;_ylt=AiIXyOCTsmzztVhFc7lhxvys0NUE