American State Jobs

Summary of the National Economic Situation

Nearly 7 million workers have lost their jobs since the economic downturn began. If the economy were to rebound sharply, the job market would have to create 400,000 jobs a month, every month, for two years to put those people back to work. Even if the recession is technically over at this point, its a very weak economy as many people will still find that their job security and their employment status is not what they expect.

Consumer spending is a key to improving the job market. Government spending has helped the only bright spots. They are cash for clunkers and the $8000 tax break for first time home buyers. Lower petroleum and natural gas prices may improve holiday spending over the dismal outlook.

Companies who export high tech products are beginning to benefit from a significant drop in the value of the dollar and could be the next bright spot. Stimulus funds may help companies developing next generation energy products.