1%, to a seasonally adjusted $18.54, from $18.52, according to the Labor Department. Wages for manufacturing workers fell 0.1%" (Goodman & Healy 2009). Furthermore, "interest rates on government debt surged, hitting their highest levels in six months, as investors bet that inflationary pressure would accompany any recovery" (Goodman & Healy 2009). Long-term prospects seem dicey: major investment firms are now either extinct or severely compromised and even the unemployment data may be worse than the figures indicate, as it may simply be that more people have reentered the job market, looking for work, who had given up several months or weeks ago and thus were not counted in unemployment...

Investing in new industries, such as green technology must be the focus of the federal government, to create long-term economic stimulus, as well as cutting government spending in areas that do not generate jobs, so as to reduce the budget deficit. The Federal Reserve Bank, bowing to the need for credit in this economy as well as the flagging fortunes of homeowners must also strive to keep interest rates low and the money supply relatively liberal.
Works Cited

Goodman, Peter & Jack Healy. Jobless rate rising. June 6, 2009. The New York Times.

Retrieved June 6, 2009 at http://www.nytimes.com/2009/06/06/business/economy/06jobs.html?ref=business