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Unemployment one year after the credit crunch

By The World ⋅ September 7, 2009 ⋅ Post a comment
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arbeitsamt150In September 2008, Lehman Brothers filed for the largest bankruptcy in U.S. history, sending the already unstable markets into a serious tailspin. One year later unemployment levels across the globe are high: in Europe the number of jobless in the eurozone hit a 10-year high in July, while the Federal Reserve warned that U.S. unemployment could rise above 10%, which is higher than its earlier forecasts. On Labor Day we’re taking a closer look at the job markets around the world.

Discussion

One comment for “Unemployment one year after the credit crunch”

  • Victoria

    Age discrimination is now rampant in the United States as former older business owners and entreprenuers (40′s-60′s) are forced back into the job pool. No one is reporting on it either but it is the number one thing going on right now.

    They can also pay us far lower wages and label us “entry level” even if we have 20 years of experience.

    Not only have I experienced it (of 17 jobs I applied for, 14 were given to younger workers in their 30′s or younger) but many of my friends in the same boat are experiencing it.

    Within work places, older workers are being forced out so the younger often time airheads can replace them. They can pay the young people far less though the price they pay for less experienced and mature workers is high.

    The older mature worker is getting screwed on all counts.

    Please report on age discrimination in the work place and note that no discrimination laws protect workers in American from it. This was by design. “You cannot discriminate by age” was masterfully left out of the law.

    Thank you.