HB WASHINGTON. The employment crisis in the U.S. inhibits consumer sentiment: Private consumption moved in September to just 0.2 percent, as the U.S. government announced on Monday. Experts polled by Reuters had expected a growth rate twice as high. In the previous month, consumers had to revised data have increased their spending by 0.5 percent. At the same time the income fell in September by 0.1 percent. This is the first decline in 14 months. The data are regarded as more bad news for the U.S. economic performance, which is carried to 70 percent of consumption.
The consumers had in the months of July and September contributed to the moderate growth of the economy by increasing their spending by 2.6 percent. The gross domestic product (GDP) grew in the summer quarter of projected annualized to around two percent. However, this is not nearly enough for the U.S. situation relatively high unemployment of just under ten percent to reduce. The job misery inhibits both the buying mood, especially since many Americans now have to fear from the middle class about their jobs.
High unemployment, the escalating budget deficit and the news flowing from the housing market play in the congressional elections the Republicans in their hands. "The government really can do nothing for the plight of the economy," says Unicredit expert Harm Bandholz. But even if the fundamentals of the crisis, the predecessor of President Barack Obama, Republican George W. Bush have been laid, will the voters punish the Democrats at the polls next Tuesday. Alone in the House of Representatives is expected Obama’s party lose dozens of seats and give the majority to the Republicans.
The U.S. economy is growing more in a year, was officially declared the recession over. But the economy has lost momentum, it is not enough, so that new jobs are created. Unemployment remains stubbornly at about 9.6 percent – it is thus about twice as high as at the beginning of the crisis in the summer of 2007. A quick recovery is in sight, says Bandholz: this alone, the number of unemployed remained stable and no longer continue to rise, an economic growth of three percent was necessary. Plays a role here that in the U.S. population in this country other than increasing, says Wood Band – and more people need more jobs.
The International Monetary Fund (IMF) expects that economic performance is increasing in the U.S. this year by only 2.6 percent – that was not enough, so that more people find a new job. Next year, the recovery will therefore continue to lose momentum and set the gross domestic product by only 2.3 percent. "I do not think there is an easy way to rid the economy of their problems quickly," James Hamilton, an economics professor said at the University of California at San Diego.
For still gathering dust in many factories, the machines, the companies are in debt-financed boom before the crisis invested too much – and now hardly any growth impetus in view.
The utilization of the company is just at almost three-quarters, in the long-term average, but there were more than 80 percent. Consumers fall out as a growth driver, due to high unemployment, lack of money. Many are from the period before the crisis in debt and need to save now. Obama relies on the export sector – but years of a consumption and domestic demand growth and over-dependent liquid financial industry have left their mark. In many industries, U.S. companies have lost competitiveness.
The probability that the number of unemployed is fast, so low. Many voters see polls show the dire situation on the labor market not as a normal part of the business cycle, but as a sign of deep economic problems. Although the Democrats advertise for her more than $ 800 billion stimulus package, without which the situation would be far more difficult. But in the eyes of the public spending have worsened, especially the financial situation of the country without meeting the economic aspirations.