The job market news is not positive and that is the main reason why news media is not highlighting the recent 90,000 layoffs in US alone. This is a 44% increase from the first quarter of the year 2010 but the news is not welcomed by many as more job cuts are expected in the third and fourth quarter. A rise is seen when some private companies added 20,000 jobs but that is not enough for the downward job market trend.

It is analyzed that unemployment rate is 6% and job market being very strong but the question is for how long will the unemployment be faced by the people as the economy is moving downwards. Finance sector is the major sector which faced job cuts this year. In UK alone 8,000 job cuts has been witnessed and in US the job cut totals 19,000 in financial sector only. Financial sector is known to be the most critical sector of economy and any dramatic change in this sector indicates clear signs of danger. The biggest problem is that the governments are not taking this matter seriously and the news media is controlled by the government which helps in playing the same goal “not to create unemployment hype”. US job market is huge and those laid off can be switching jobs around other states but UK job market is different and the joblessness in UK is severe. The foreign students studying in Britain are jobless because the economy is a vacuum tube. learn more about UK Job Market