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Oh, yes, definitely, unemployment or job loss will be the future if auto bailout is not taken seriously. Its not only the auto industry that will be affected but also other related industries like media and advertising. Now its upon the Bush administration to decide whether to provide government assistance to Detroit's Big Three automakers or not. Reports and surveys clearly state 
that if automakers like Chrysler and GM collapse, more than 600, 000 employees would loose their jobs.
The failure of the automakers will be catastrophic and affect 323,000 Canadians who would be jobless. And if the situation remains the same, the toll is expected to exceed upto 582,000 in next five years. Even if the automakers cut down their production by 50%, more than 157,000 jobs would be lost. By 2014, this job loss percentage is considered to rise to 296, 000. If some analysts are to be believed, this situation is difficult to handle and banks will not be able to fund loans to the automakers.
that if automakers like Chrysler and GM collapse, more than 600, 000 employees would loose their jobs.The failure of the automakers will be catastrophic and affect 323,000 Canadians who would be jobless. And if the situation remains the same, the toll is expected to exceed upto 582,000 in next five years. Even if the automakers cut down their production by 50%, more than 157,000 jobs would be lost. By 2014, this job loss percentage is considered to rise to 296, 000. If some analysts are to be believed, this situation is difficult to handle and banks will not be able to fund loans to the automakers.
1 comments:
My opinion is that letting the last three US autocompanies fail is unpatriotic.
But if these people working at carmaking plants will loose their jobs, it is extremely important that they will get unemployment money until they find a new job, not only to support them, but most important to help the rest of the US economy. If so many people loose their income, they are not able to buy any more, and all other selling business will fall like dominos.
Unemployment money is totally important to prevent our economy diving deeper into trouble.
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