The Economic Essay Example | Topics and Well Written Essays - 250 words

The Economic - Essay Example Aside from the education sector, the construction segment also suffered from a major cut due to the slowdown in public construction projects. Irwin also mentions Obama’s response to America’s unemployment problem, which is the $447 billion American Jobs Act. The Act aims to channel money to the state governments to avoid more job cuts (Irwin 2). This Act however is facing a lot of resistance from Congress who deem it unacceptable for the federal government to rescue the state and local governments. This article by Irwin presents a bird’s eye view of the current unemployment situation of the US. It is very informative, citing valuable data on the labor front. One thinks that even if the public sector does not create new jobs or cuts on its employment, the unemployment figure could still improve provided that the private sector is able to take in those who lost their jobs from the state and local governments. The question though that persists in one’s mind is whether the private sector is ready to hire more with the current state of the