Jobless Fears Also Affect Economy
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It would seem that not enough attention is being paid by the media to the unemployment level and its far-reaching impact on our economy.
As a one-time student of economics, I have been close to the growing unemployed army in Orange County because I happen to be a member myself. This lingering unemployment is far more devastating than the unemployment rates cited by the media.
For one thing, there are probably hundreds of thousands of employed workers in this county who approach their jobs daily with the fear of being laid off. As a result of such fear, plus the constraints imposed on the unemployed themselves, most of us are reluctant to buy products we do not need or take vacations that cost small fortunes. We are holding on to our money. This fact is deepening the recession. If people don’t buy, businesses pull back, merge, or fold.
Something must be done about the unemployment level if we are to survive this recession. This is simple economics.
SHELDON J. KARLAN, Buena Park
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