Layoffs Spread to More Sectors of the Economy
Finally have the woes of our nationwide economic recession been thrust into the faces of everyone no matter their standing on the socioeconomic ladder and geographical location.
With the first month of 2009 coming to an end, more than 62,000 people have lost their jobs or had their salary cut, this number increases every week. Overall, according to the Bureau of Labor Statistics, about 2.55 million jobs have been terminated since the start of the recession. At the moment, unemployment rate is up to 7.2 percent from last month; Congress is preparing for the rates of unemployment to reach at least 8 to 9 percent this year alone, counting the Stimulus Package, by setting aside $43 billion to provide unemployment checks. However, some economists forecast those rates of job loss to reach the double digits by the end of the year- if that were to happen the funds Congress has been using for the unemployment checks may not suffice. (1)
The Stimulus Package will give individuals earning less than $200,000 a year a $500 cut, while families could receive up to $1,000 through a cut in payroll taxes on the first $8,100 in income. These monies are truly meant to support consumer spending, which to the general public may seem unthinkable during these times. (1)
It was an eerie experience as I walked through the nearly deserted mall on a Saturday afternoon. A few of the major stores that I had thought of as hot spots for young peoples clothes had vacancy or lease notices in the windows blocking the still fully dressed, in last months trends, mannequins. Stores seemed to fall into either of two categories: 1. Clothes and items that have been picked over lying in massive, unfolded, disorganized heaps on the floor or counter tops- it looked like a landfill. 2. Everything in the store was in good standing order at first sight; yet when examined more closely most all of the items and clothes had accumulated a very thin layer of dust as if no one had looked at or tended to them in a few weeks. It was these differences that really made the similarities more striking.
These stores showed the direct effects of job loss and a general fear shared amongst consumers to want to put money back into the economy.The stores that looked as though a hurricane had swept through is a direct product of huge sales that the stores have had to continue and increase to lure the wary consumer in while the appearance could not be kept up due to shortage in staff. Stores suffering from inactivity are because even with 70 percent off, most items are still deemed too expensive by the average consumer, yet the store can't afford to lower them anymore without losing what little profit there is left to make.
Although America has been blogging, mumbling, and whispering about this recession being worse off than the Great Depression of the 1930s- it is not worse, yet. Worthy attempts made by our Congressmen and women to help cushion our economic hurt can do little if we do not meet them half way and take heed to the advice that we elected them to give us. Politicians can give us tax cuts but they cannot make us put it back into the system.We, as Americans cannot let fear stop us from contributing to the greater good: your fellow jobless neighbor.
(1)Rampell, Katherine. "Layoffs Spread to other Sectors of the Economy." 01 27 2009. New York Times. 27 Jan 2009.
With the first month of 2009 coming to an end, more than 62,000 people have lost their jobs or had their salary cut, this number increases every week. Overall, according to the Bureau of Labor Statistics, about 2.55 million jobs have been terminated since the start of the recession. At the moment, unemployment rate is up to 7.2 percent from last month; Congress is preparing for the rates of unemployment to reach at least 8 to 9 percent this year alone, counting the Stimulus Package, by setting aside $43 billion to provide unemployment checks. However, some economists forecast those rates of job loss to reach the double digits by the end of the year- if that were to happen the funds Congress has been using for the unemployment checks may not suffice. (1)
The Stimulus Package will give individuals earning less than $200,000 a year a $500 cut, while families could receive up to $1,000 through a cut in payroll taxes on the first $8,100 in income. These monies are truly meant to support consumer spending, which to the general public may seem unthinkable during these times. (1)
It was an eerie experience as I walked through the nearly deserted mall on a Saturday afternoon. A few of the major stores that I had thought of as hot spots for young peoples clothes had vacancy or lease notices in the windows blocking the still fully dressed, in last months trends, mannequins. Stores seemed to fall into either of two categories: 1. Clothes and items that have been picked over lying in massive, unfolded, disorganized heaps on the floor or counter tops- it looked like a landfill. 2. Everything in the store was in good standing order at first sight; yet when examined more closely most all of the items and clothes had accumulated a very thin layer of dust as if no one had looked at or tended to them in a few weeks. It was these differences that really made the similarities more striking.
These stores showed the direct effects of job loss and a general fear shared amongst consumers to want to put money back into the economy.The stores that looked as though a hurricane had swept through is a direct product of huge sales that the stores have had to continue and increase to lure the wary consumer in while the appearance could not be kept up due to shortage in staff. Stores suffering from inactivity are because even with 70 percent off, most items are still deemed too expensive by the average consumer, yet the store can't afford to lower them anymore without losing what little profit there is left to make.
Although America has been blogging, mumbling, and whispering about this recession being worse off than the Great Depression of the 1930s- it is not worse, yet. Worthy attempts made by our Congressmen and women to help cushion our economic hurt can do little if we do not meet them half way and take heed to the advice that we elected them to give us. Politicians can give us tax cuts but they cannot make us put it back into the system.We, as Americans cannot let fear stop us from contributing to the greater good: your fellow jobless neighbor.
(1)Rampell, Katherine. "Layoffs Spread to other Sectors of the Economy." 01 27 2009. New York Times. 27 Jan 2009
I like the picture of the chucks. It gives the feeling that you're hiding underneath a table, or like in the middle of one of those clothes racks in a store-I used to do that all the time when I was a kid. :]
ReplyDeleteI already told you how great this was, but here's my formal praise haha:
ReplyDeleteThe writing is really good- very clear and you're backing your stuff up with sources. However, it's always good to have more than one source for credibility purposes.
The pictures are very photojournalistic so congrats on that. The last picture isn't as strong as the rest, but the first three display just the amount of products that are being consumed, and their disarray.
A great picture at the end (for logical progression purposes) would have been someone walking out of a store with a lot of bags.
It's always good to have a chronological order with photo essays.
But overall good job :) It can definitely go in your portfolio and it's also newspaper-worthy