How The US Economy Affects Small US Business Owners
In September 2012 we witnessed the first Presidential Debate involving President Obama and Governor Mitt Romney. Each candidate spoke a lot about how they would increase jobs and improve the nation but the more I watched the debate the more I realized that in my estimation neither of these candidates will do anything significant to help small businesses live on in this current depression.
As of October we have had the fourth decline in the past 5 months in small business hiring as small business owners are not positive that the economy is going to hold up. The fact that the United States is the world's chief economy and that we have the highest unemployment rates in the world says a lot about the state of affairs we are in right now.
The current U.S. jobless rate in October 2012 is 7.8 percent this is for all Americans across the board and this number does not take into account the specific jobless rates of all the major ethnicities living in the United States. The African American unemployment rate is 14.4% as of June 2012 this is an absolute killer for the black community and "yet Blacks are still going to vote for Obama".
The unemployment rate for Hispanics is 9.9 percent as of September 2012 but when you look at the unemployment rate for Hispanic youth age 16 to 19 years of age it's at a high 27.8 percent. These numbers according to statistics have dropped but I don't think this is anything to brag about as this is still very high.
Many people will argue if this economic depression in the United States isn't self-inflicted because of the greed of Wall Street and for politicians to protect their own no matter what the cost is to the American tax payer. We have all heard the rhetoric but how in the world are things not getting any better if supposedly our government is doing all it can do to make a affirmative "Change"?
It's really simple if people have no money they can't buy goods and services which affects businesses when it comes to hiring new personnel or just keeping the employees they have. If the United States government thinks it can increase jobs one of the best ways to do that is to help small businesses thrive because small businesses are the number one source for jobs in this country.
We hope you found this information useful and that you are preparing financially for the future. If you need financial advice or accounting services please visit #Washington DC Accounting#.
|How the US Economy Affects Small US Business owners page created by Bobby Johnson|