Wednesday, July 20, 2011
In the aftermath of the global recession caused by the financial crisis of 2008-2009, the jobless rate increased drastically in almost all of America and Europe. It also affected the Middle East where unemployment rose in many countries above 15%. Today, the unemployment rate in the U.S. is nearly 10% while it is around 8% in Canada. Yet, we cannot measure the negative effect it has on families and individuals. Most people who are laid off are in their 50s thus it would be hard for them to find jobs that match their experience. Worse, both the U.S. and Canada appear to have tightened the immigration from other less-developed countries. Europe too is suffering from a hard-hit euro which has brought inflation to a higher level. The question is for how long would we have high unemployment? The right to work is recognized in every culture. Think about it.