http://townhall.com/news/us/2013/07/11/greeks-protest-job-cuts-unemployment-hits-new-high-n1638564
Unemployment doesn't only occur in the U. S. I picked this article as my non-US source. It is all about the unemployment rate in Greece increasing drastically for them. And now job cuts are being discussed which the Greeks are not happy about due to the already increasing unemployment rate, the highest it has been since 2006.
"Fuelled by three years of austerity Athens has imposed in return for bailout funds from its foreign lenders, unemployment inched up to 26.9 percent in April, the statistics service ELSTAT said - the highest since it began publishing jobless data in 2006.The jobless rate, up from 26.8 percent in March, is more than twice the average in the euro zone, which stood at 12.2 percent in May. Young Greeks aged 15-24 are the hardest hit, even though the rate for that age group eased to 57.5 percent in April from 58.3 percent in March. About 700 to 1,000 Greeks are being laid off daily, ELSTAT estimates."
The above paragraph is directly from the article. The last fact is just shocking to me because, we, the U.S. is so much bigger than Greece and yet 700 to 1,000 people daily, daily are being laid off. If that is how many people in Greece daily, it makes you wonder how many U.S. citizens lose their jobs daily. I read that up to 20,000 Americans lose their job everyday. Compared to both countries populations you may think this is not so bad, but it is. This effects the economy a lot. There is not as many resource, goods and services, and money payment exchanges being made. Unemployment is not a happy topic especially when people are losing jobs when they aren't even doing anything wrong. Greece is going through a hard time right now because of the already increasing unemployment rate and now the talk of job cuts. I am not quite sure how the Greece government works but I hope they can come up with a solution to help lower their unemployment rates and since they are a smaller country I hope when they find a solution it won't take to long to help the economy get better. Unemployment is a big issue everyone and most people don't want to be without a job, people like money. I also hope the U.S. Congress starts working together, so the economy can start to improve.
Tuesday, October 8, 2013
Government shutdown: What's the cost?-cbsnews.com
http://www.cbsnews.com/8301-250_162-57605387/government-shutdown-whats-the-cost/
This article talks about, "shutting down the government could cost the federal government well over $2 billion dollars if it resembles the last shutdowns in 1995-1996, though the economy would be harmed in additional ways that are nearly impossible to measure." and all the aspects that will be contribute to these costs , but there is one part in particular that I am focusing on for the unemployment side of it. This part;
"Though employees of firms that contract with the federal government won't be furloughed the same way that federal employees are, there will be employees on standby who receive their salaries even as the contracts are temporarily on hold. And those contractors will ultimately get paid or get an equitable adjustment when the shutdown ends, said former Rep. Tom Davis, R-Va., who is now the Director of Federal Government Affairs for Deloitte. Like federal government managers, contracting officers have already lost work time going through all of their contracts to determine which ones will be affected by a shutdown and how they can keep things running.
"You're paying for stuff that is not getting done," Davis said of a shutdown. On top of that, he added, "the morale costs on this to federal workers and contractors is huge." Federal workers were paid retroactively in past shutdowns, but there's no guarantee that will happen this time around. Those effects will be outsized in Maryland and Virginia where tens of thousands of people work for government contracts. Maryland officials told the Washington Post the state would lose $5 million a day in lost income tax revenue. "
Due to the government shutdown many, majority of people who work for the government are out of work, which yes could be short lived depending how long the shutdown lasts but it is not going to help us at all. It really don't like when people get paid for doing work but I know that there are people who are out of work and it was nothing they did. I wish there was a way to figure out the people that are just lazy and the people that try very hard and just want to find work because I have no problem paying people who are working to find work but the ones that are not and are capable of working and finding work should not be paid. With that being said I still don't like that we are paying Congress and sure you could fight that they are working because they are working to get the government out of the shutdown and they don't car about the money because they are already rich, but I don't see them working I see them fighting and accomplishing nothing so far. If they were really working I think they would be working together and obviously they still care about the money or they wouldn't have worried about passing the law, even though they really don't need to because they are well off. Congress needs to start listening to each other and working together so we can get out of this shutdown, get people back to work, and keep making an effort to fix the economy.
This article talks about, "shutting down the government could cost the federal government well over $2 billion dollars if it resembles the last shutdowns in 1995-1996, though the economy would be harmed in additional ways that are nearly impossible to measure." and all the aspects that will be contribute to these costs , but there is one part in particular that I am focusing on for the unemployment side of it. This part;
"Though employees of firms that contract with the federal government won't be furloughed the same way that federal employees are, there will be employees on standby who receive their salaries even as the contracts are temporarily on hold. And those contractors will ultimately get paid or get an equitable adjustment when the shutdown ends, said former Rep. Tom Davis, R-Va., who is now the Director of Federal Government Affairs for Deloitte. Like federal government managers, contracting officers have already lost work time going through all of their contracts to determine which ones will be affected by a shutdown and how they can keep things running.
"You're paying for stuff that is not getting done," Davis said of a shutdown. On top of that, he added, "the morale costs on this to federal workers and contractors is huge." Federal workers were paid retroactively in past shutdowns, but there's no guarantee that will happen this time around. Those effects will be outsized in Maryland and Virginia where tens of thousands of people work for government contracts. Maryland officials told the Washington Post the state would lose $5 million a day in lost income tax revenue. "
Due to the government shutdown many, majority of people who work for the government are out of work, which yes could be short lived depending how long the shutdown lasts but it is not going to help us at all. It really don't like when people get paid for doing work but I know that there are people who are out of work and it was nothing they did. I wish there was a way to figure out the people that are just lazy and the people that try very hard and just want to find work because I have no problem paying people who are working to find work but the ones that are not and are capable of working and finding work should not be paid. With that being said I still don't like that we are paying Congress and sure you could fight that they are working because they are working to get the government out of the shutdown and they don't car about the money because they are already rich, but I don't see them working I see them fighting and accomplishing nothing so far. If they were really working I think they would be working together and obviously they still care about the money or they wouldn't have worried about passing the law, even though they really don't need to because they are well off. Congress needs to start listening to each other and working together so we can get out of this shutdown, get people back to work, and keep making an effort to fix the economy.
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