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Unemployment Highest in 9 years

 
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This situation is global now.Unemployment is everywhere.Reason for that is Globalization.
 
Greenhorn
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Not only IT, every industry will get influenced by Globalization.
Both China and India have a large pool of well-educated labors. While we have a unemployment rate of 6.4%, the figure of either China or India is 20+%.
 
Arjun Shastry
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Thats right.Don't get much influenced by media portraying India or China in pink color.
 
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Hello,
Each country have its own formula of unemployment rate calculation. Do not jump into any statistic in a rush and think you are better.
On LA Times, California State will be out of unemployment benefit by next year because the high ticket items are unemployed professionals. In able to keep the system afloat state thinking of penalize company that contribute unemployment the most. This will curve the offshore trend for sure. Company will think twice about offshore the works overseas. I am a firm believe into more regulations into offshoring. Currently, companies are rushing into offshoring without any serious analytical. If my competitor do it, I will too -- Dotcomer mentality deja vu.
Regards,
MCao
[ July 04, 2003: Message edited by: Matt Cao ]
 
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