After Cashing In on Job Cuts, Wall St. Looks to Worker Upturn
Since the financial crisis, employment was continuously cut as the economy grew weaker. After years of this high rate of unemployment, we are beginning to see signs of slow recovery. With the new unemployment rate at 7.7% and the Dow Jones closing at an all-time high since the recession, there is much more optimism in the market. Corporate profits were high because of the smaller work force. As Corporate America started to turn things around, normal workers began to feel the hit more because of the high unemployment rate. Stimulus plans were set to help the better the economy but it did not benefit much for ordinary Americans but recently there are reports of growing employment rates and higher wages for ordinary workers. The effects of the stimulus plans are finally reaching American workers.
After all these years of cutting employment rates, the economy is finally starting to see some recovery for both Corporate America and the ordinary American’s. This is a good sign for the economy and with all the positivity; there will be less uncertainty in the markets but more stimulation is required. This will influence people to flush more money in the economy and speed up the recovery of America.
Written by: Wilson Tang