As you know we are in an economic recession. During this recession many businesses have folded and closed. Even more important, many industries have been hit badly with record-breaking profit loses, high unemployment with reoccurring layoffs, and multiple bailouts and mergers. The State & Local government jobs' industry has been hit the worse. Unemployment for this industry continues to rise. A recent report by the National Governors Association and the National Association of State Budget Officers found that 22 states furloughed employees and 25 laid off workers during fiscal year 2009-10.
Most of these industries helped build our country in the 20th century. So now that most of these industries are failing, what does that mean for the future? Are their new and upcoming industries that will take our country by storm or are we witnessing the end of our economic stability. However, for some of these industries people are being replaced by technology. Just because a machine can do the work of 75 workers, it is ok to let those 75 people go. Yeah thats clever , but as sales of many products are down, it's not so bright to mass produce a product. The Realtor industry has been shrinking day by day in the past 4 years. As less and less homes are being sold, it's almost become inpossible to make money. So, whatever happened to that bailout plan, hasn't worked.
I think one way to stimulate these businesses is to do something of the New Deal style. Start re-building roads, projects in other countries, bring some of those foreign jobs back home. Also, fix roken and abandon houses. We should do anything and everything to keep our economy stimulated and people busy. Because as I said before these markets have built our country and are the backbone.
http://finance.yahoo.com/banking-budgeting/article/110592/the-10-american-industries-that-will-never-recover
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