Job market still in trouble this Labor Day

September 6, 2010 |  by  |  Breaking News, Lifestyle
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President Barack Obama has big plans for Labor Day. He will be traveling to Milwaukee where he’ll address his “most urgent task”—fixing the economy and creating jobs. Although public support is wavering, Obama is doing everything he can to show that he is serious about turning this country around.

In Milwaukee, President Obama will discuss a “broader package of ideas” to jumpstart the economy. Some of these items are creating new infrastructure projects, offering research and development tax credits and new tax breaks for small businesses. On Wednesday, the President heads east to Cleveland where he’ll deliver a speech on the economy.

President Obama confidently expressed on Friday, “The economy is moving in a positive direction, jobs are being created; they’re just not being created as fast as they need to, given the big hole that we experienced. We’re moving in the right direction. We just have to speed it up.”

Not everyone is remaining hopeful, though. Economists are predicting that when the job market picks up, jobseekers fall into two distinct categories—professional fields and lower-skill jobs. They say that those with specific skills and education will have an abundance of opportunities while others will have to make a choice. Either take a low paying job or stay unemployed. And what about those in between? Their outlook is not bright. Economists anticipate a smaller number of moderately paid employees such as postal workers and factory supervisors.

The latest staggering statistic released by the Labor Department shows that 54,000 jobs had been lost in August and that the unemployment rate is at a whopping 9.6 percent.


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