Labor Day Woe For Americans

NEW YORK (GaeaTimes.com) — America cannot dream for a happy Labor Day 2010. As of now the word ‘celebrate’ and ‘Labor Day’ cannot be pronounced together in a developed country like America. The recession, the economic downturn and the continuous surge of unemployment rates have caused a dismay among the Americans.

Due to the global recession millions of workers have lost their jobs and millions of lives are thrown into the pockets of uncertainty and consternation. The so-called great recession seems to be hard blow for the Americans. Workers in other similar countries have not taken so much toll out of this recession compared to the workers in United States.

Since 2007, U.S has faced a sharp increase in the unemployment level by 5%. According to economists the economic recovery is slow and the rate of hiring is not sufficient to pull down the unemployment rate. This sluggish growth in the economy will mount to the frustrations and apprehensions among the people. This would directly have a serious implication on social and political fraternity.

Is there a solution to this ever increasing problem? There is a continuous hike in demand for services and supply of cash. The government has implemented constructive tools in the form of low interest rate but how far it can supplement the loss? The on-going struggle to pay bills and the demand for more jobs continue to creep in the life of Americans. With this Labor Day we can hope to build a better tomorrow.