US Highest Unemployment Rate Since 1994 - What Can We Do About It?

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With all the euphoria and optimism due to the newly appointed US President, Barack Obama, the US economy is still haunted by nightmares.

This time - the unemployment rate.

President Barack Obama made busy early in his work at White House with the raving news about the US unemployment rate that is now 14-year high at 6.5 per cent in October 2008, surpassing the forecast of 6.3 per cent.

According to the article from Financial Times, the total of US job losses this year has now reached 1.2 million, which lead to Goldman Sachs saying that the US labour market today is in “full recession mode.”

What worsen the nightmare is the outlook - Goldman Sachs further predicted that the unemployment rate would hit 8.5 per cent next year.

What you and I can do about this news

Perhaps you are already aware that what happens to the US will affect globally - a sign that the global economic barometer is still lead by the US, not the much hyped China.

I have written about how to make a difference in today’s recession, and I will stress the importance again and again: Did you aware that the recession today is caused by you and I?

Yes - you and I, despite any personal finance issues we face, affect the people around us.

We affect our family, our family affects the community, the community affect the region, and so on, ultimately you and I affect the global economy.

Change is needed, and it better start from you and I.

I expect Money and Minds readers to be the agent of change in today’s negative sentiment about the global economy.

I am an unemployment myself - what can I do to change things?

Any situations you are in, you can make a difference.

People were talking about doing this and doing that to change the economy direction, but only a few really do change things.

I recommend that we start from our personal finance. The main idea is - if you can’t save your personal finance, you can’t contribute positive changes to the economy.

Don’t expect the government or authorities to do things for you - they have their tasks, you have yours to.

Your tasks:

1. Stop whining - if you are made redundant, get yourself a job again - never linger in depression. Or better yet, start a business. Don’t give me “I don’t have money to start a business” - you can actually start one without any amount of money required, only if you want to look for it.
2. Stop preaching bad economy to others - you are not only destroying yourself, you are destroying others, too.
3. Turn off your TV, start digging business or job opportunities - the bad news are always on TV, but good news are hidden - ready to be found.
4. Learn how to get out of debt and run your personal finance efficiently - there are resources on the Net for free - look for them!
5. Never fall to get rich quick scheme - there are none of it. Work diligently, and riches will come to you eventually.

The question - Are you resilient? Do you have all the guts to bring out all you have?

Your answer will affect the global economy. Save your personal finance, save the world.

Image by woodleywonderworks.

Tags: unemployment

3 Responses to “US Highest Unemployment Rate Since 1994 - What Can We Do About It?”

1. smallbusinessbrief.com says:

   November 9, 2008 at 4:15 pm

   US Highest Unemployment Rate Since 1994 - What Can We Do About It? | Money and Minds…

   With all the euphoria and optimism due to the newly appointed US President, Barack Obama, the US economy is still haunted by nightmares….
2. Dorothy says:

   December 4, 2008 at 4:38 am

   Yep, your tasks are right on the money! It’s amazing how hoping for the fast buck can blind us to the real opportunities in plugging along, doing what needs to be done, when it needs to be done, the way it needs to be done - and how that leads to success.
3. Ivan says:

   December 4, 2008 at 8:17 am

   Dorothy,

   Exactly! It’s the journey, not the finish line, that will make a difference.