The podcast chiefly describes the economic situation in this quarter. According to the latest economic data, it shows the worst economy will happen in the third quarter this year. Compared to 6.4 percent decline of the nation’s output earlier this year, 1 percent decline of the nation’s output in the second quarter this year represents that economic crisis is getting eased. The reporter, Jack Healy, also mentioned that even though most economists believe economy will start to recover before the end of this year, the unemployment rate will not drop down as soon as the economic recovery. People still save their money and not increase their expense, so the period of economic recovery will last longer than a half year. It is not the time to celebrate, the recession passed though.
Under the impact of the recession, many of my friends are laid off or cannot find a job. They have tried to get jobs, but companies still not want to hire people until the economy is stable. I think those unemployed friends need more time to pass the tough life. However, I believe the economy in the Asian area will recover sooner than other area in the world and probably becomes the most vigorous one. Following the recovery of economy, we have to worry about the price of commodities. The price of commodities will higher than the price in 2008, and the situation will cause another sharp inflation.
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