At first I thought it was because people weren't spending money (buying things) like they use to. But that doesn't seem to make sense because if these people had jobs, they would spend excess money. So it almost would seem that people are unemployed, because more and more people are becoming unemployed! You risk losing your job because 20 other people lost their jobs that shop at where you work! So what triggered the cycle of unemployment leading to more unemployment? I feel like I need to be reminded why we are in this mess. Anyone?
well, we still have massive 'guest' worker programs the country that's a dumping ground for the world's unemployed is going to have an unemployment problem
it is a lot of things. people do not employ staff to give them jobs any more they did use to. they employ people to do a job and if they do not need them the sack them to make money. this is part of the problem. the new economic system where things change means people change jobs and employers have little loyalty. we are in a transitional period but the governments are on the take so every one is looking out for themselves. there are other issues the economic system manufacturing especially is moving to the east so they are picking up while the west is failing. the next couple of years will be bad.
Banker decided it is good for the economy to let people go unemployed, and suffer the hardship of reality for their own mistakes. During the good time, people has forgotten to keep worshiping bankers when they go to their church. Give too much credit to the other imagined dude, bankers are really jealous about it.
I think your answer might signify how many of us really don't know where this all began because that has been going on for years, even during some very prosperous times! Part of me feels it's because of the perpetuated fear. In 2000 people thought the world was going to end with Y2K. Then we had 9/11 and people were afraid. Then we had a series of wars. There was the constant uneasy feeling that Bush and the Republicans perpetuated from the war on terrorism to the stuff the media pushed. Then we had the banks that collapsed and had to be bailed out. I think part of it killed some of the capitalism spirit in many people. A lot of people I know went through some of the worst periods in their life during this period of time. Many people became jaded, lazy, cynical, not trusting of the government or "the system". We had movies like "The Matrix". I think all this fear also killed the consumerism mentality. If you look at the period before that, it was a cleaner period. Clinton was balancing budgets, overall the confidence in America was higher. People were freeing their minds, there was an internet tech boom with all the creativity. Many people had some of the best years of their lives during this period. That's just my theory. It all seems to originate from the constant fear that seemed to be perpetuated. No liquids on airplanes. Watch out for shoe bombers!
The phenomenon you have described is sometimes called a death spiral. How did it start? Well, let's see... offshoring of manufacturing, tech bubble bursting, housing bubble bursting, credit freeze, deflationary forces... the list goes on.
haha, yes, that is my point exactly! Where did it all start, what was the trigger point. Suddenly we have 10%+ unemployment, some say 20%! I would have never imagined such a thing could happen unless there was some sort of catastrophic event.