US Economy: A Stagnant Crisis
I wasn’t very surprised when US economy reported job creation of about 236,0000 except in the government sector in its recent reports. Varying in different sectors and lowest till now, this is sad news for an economy which is finding hard to retrieve its growth. The country should be able to serve job creation and control inflation, US in which failed and rose unemployment to extreme levels. After the Great Depression, there has been many strings tangled within the economy namely wages, productivity, labor force, etc. The result has been formation of policies and government schemes which apparently brought US economy at par with “growing economies” though the pace of which has been better than the others.
Job creation is sustainable advancement when done in the right sectors and a willing man force. If the same is not endured the unemployment rate remains at low levels, as per news feed, 7.9% unemployment was reported for US this February. Such numbers excites nobody as US economy threshold of the structural changes economy goes through. The rise in currency value and inflation all over the world signifies that a greater recession may be knocking our doors. When in 2008-09, trillions of financial was suffered by US; the recovery of same subdued further growth plans and pushed the economy 5 yrs back. This till now is not only a “prediction” and theoretical satisfying, but least is visible even in to restoring rate of profit, wage cost and reserves.
The relief is cheap labor is still in plenty and willingness to be deployed in west is has not declined over the years. This is helping to keep production in control and create opportunities for the capitalist to form better strategies for investments to avoid further depression in next 10 years. There are measures in progress to curb any more economy downfall for the country such as supervising imports, analyzing markets to control currency value, evading policies that increase the deficits any further, stringent vigil by the economist on employment to modify production rates gradually and many more. There should be visible changes and moving strategies to abolish the crisis stagnancy.