Although I would like to be optimistic and say that I do think the unemployment rate is going to get better soon, I just can't do that. It has been shown that unemployment is the very last thing that will improve after a recession. Although it has been reported that we are out of the recession jobs are not opening up. Employers are still weary that the economy isn't totally recovered yet. They are focusing more on making up for their financial loses than hiring new employees. Also, people still aren't spending as much money, so companies are still not back to where they used to be before the recession.
I feel it is going to take at least a year for the unemployment rate to get better. People are not comfortable with the economy yet. Since this recession was so bad, everyone is paying close attention to their personal finances in case we drop back down again. The unemployment rate can not get better until the people of the United States have confidence in their economy. Also, companies need to feel confident that, once people do start spending, they will continue to spend. They will not hire more employees until they are absolutely necessary. Unfortunately I don't think will be happening any time soon.
What industry do you think will start to hire employees first?
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