• The economy took a dive in late 2007, bush and Obama have struggled to reverse the loss of jobs.• Obama had various government programs and bailouts to save the economy.
• The unemployment rate in the United States was reported at 9 percent in October of 2011 and it had fallen to 8.3 percent in January of 2012. From 1948 until 2010 the United States Unemployment Rate averaged 5.70 percent reaching an historical high of 10.80 percent in November of 1982 and a record low of 2.50 percent in May of 1953.
Reasons behind the highunemployment in the US
• On the 8th of November 2011, Obama gave a speech about the creation of new jobs for the American citizens, as the unemployment rate had reached a very huge number which is 9.1 percent.• The speech has delivered more than one solution for the high unemployment, these points are:
when it came to the congress to vote on this bill the Senate Republicans have voted to kill the $447 billion White House jobs bill
Wall Street demonstrations• As the percentage of the high unemployment didn’t change and there was no response from the government about creating new jobs, corruption is everywhere specially in the financial services.• On September 17, 2011 there has been a vast of protesters that have occupied Wall Street. The protests are against social and economic inequality, high unemployment, as well as corruption.