Over the last quarter the global economy has not improved much despite various stimulus plans (as expected because of the lag factor). There have been the usual fluctuations in stocks and oil, however there is no major recovery in sight.
The next quarter will be no better for most of the world. After the first major round of layoffs in the 1st quarter and steady trickle since then, the next round of layoffs will be happening in the third quarter. More bankruptcies will be announced and the average man on the street will continue to suffer. As usual the poor will get worse and no one will care about them (read this wonderful op-ed on the New York Times by Barbara Ehrenreich “Too Poor to Make the News”).
For fresh graduates and the currently unemployed things will start to get better by the end of the fourth quarter and beginning of the next year. Until then, hold tight everyone, it’s going to stay hard for a little while longer.
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