Millions Of Jobs Lost In China
We all know what’s going on with job loss here in America. It’s frightening, and it seems like there’s no end in sight.
So imagine my surprise when I read a CNN story earlier today that said around 70,000 factories in China have closed, eliminating over 20 million jobs. The overwhelming majority of these workers were unskilled former migrant farmers, who moved to communities to work at the factories because they could make a lot more money and live a better life than what farming gave them.
China wasn’t prepared for anything like this, and didn’t have an unemployment payment process in place because they’ve never thought about it before. However, they’re working on a plan to pay more than 74 million people, as they’re including low income people in the mix, the equivalent of between what converts to $15 to $22 dollars, as some of these factory workers were making the equivalent of $10,000 a year at the upper levels.
Sometimes it’s hard to even begin to think about what’s happening in other countries because of the problems we’ve been having here. It’s no wonder that people around the world keep looking to see what the United States is going to do. However, supposedly the Chinese are more used to savings their money and not spending frivolously, as opposed to Americans. I suppose we’ll see about that, as many of these people, who’ve never really had to worry about finding jobs before, will see what it means to hit the unemployment line.