Jobless Rate Hits 7.6%; 598,000 Positions Lost in January

In January alone there was nearly 600,000 jobs lost. Because of the poor economic status of our nation many small businesses have been forced to cut jobs. Those job cuts have been visable in the unemployment rate. In December it was 7.2 percent and by January the nations unemployment jumped to 7.6 percent. In the past year the government estimates that 3.5 million jobs have been lost. The worst part is, nearly half of them have been in the past 3 months.

I think that the condition of our economy is much worse than many of us would have imagined. Being a young teenager I never truely understood the worth of the dollar. Now that i have aged it has become more apparent. Right now in my life, I dont think i truely realize it yet. While Im under my parents roof I have their finances to rely on. But in the next years to come, when I am out on my own, as a poor college student, I think that the worth and the situation we are in will hit me like a brick wall.

I hope by the time that I am in college the things Obama has talked about doing with our economy such as his stimulation plan, I hope it will work. It may not be a quick fix, but hopefully it will benefit us a little.

://www.foxbusiness.com/story/markets/economy/employers-shed--jobs-january-unemployment-rate-hits/