Dallas Business News by WiredPRNews.com — Even as the campaign for presidential elections picked up pace entering the last eight weeks, American workers faced employment shortage as the unemployment rate rose to 6.1 percent.
Times are tough even for those who are employed according to a release by the Labor department on Friday. Statistics show employers slashing 84,000 jobs in the month of August alone even as the year saw 605,000 jobs disappearing from the scene.
Prices of food and gasoline skyrocketed and salary raise was not proportionately raised. This has created a tough situation and Americans are squeezed for funds.
Situation appears bleak even as the presidential candidates wrapped up their campaign and took off on the final lap towards the elections. According to the Republican Senator John McCain, the poor economy is a result of Washington’s failure to act.
Promising to put forth a jobs program and retrain workers for the emerging markets, he reiterated that the need of the hour is to create jobs and ease the situation.
The Democratic Candidate Senator Barack Obama however blamed the current job situation on his opponent. He blamed him for causing Americans to lose a whopping 605,000 jobs due to his economic policies.
Obama’s campaign asked the Congress to put forth another stimulus package with the starting point as his $100 billion proposal as this job report clearly indicates the stakes in the coming elections.
This recession in the job market has mostly affected people over 25 years who are graduates from high schools and colleges.