About American Economy
I feel the urge to write about the current American economy, not that I have a degree in Economics, but that I am in the financial industry, facing an impact that I can no longer ignore.
Headlines such as Citigroup with layoffs of 50,000 people and the like reported everyday make people feel so unsettling. You never know when you will be the next. In addition, the security that you have built up for so many years have suddenly all gone in drains.
Latest headline news as of 12/5/08, skittish employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession. (from Associate Press)
This is a really shocking figure - 533,000 people losing jobs. It is just the beginning. It is not easy not to feel depressed with the entire economic situation. No one is exempt from guillotine. I am sorry to use this strong word, but it portrays how I feel.
Anyway, if worse comes to shove, I may apply for a teacher license and switch careers.