U.S. unemployment much worse than what the stats show

The condition of the U.S. job market might be much gloomier than the current statistics, as much as to trigger another downturn, confirmed analysts.

Labor Department’s Friday declaration that U.S. employers almost ceased appointing workers in the month of August triggered economic chaos worldwide, hurting the Asian and European stock markets.

Against the investor-expectations, the meager hiring of less than 93,000 jobs came as a surprise. To add to its woes, the earlier accounts of June and July employment figures also fell short of the review.

Current U.S. unemployment figures inaccurate
Economic experts assert that the current unemployment rate of 9.1 percent could definitely not be considered accurate since 14 million jobless employees are struggling with 8.8 million other part-time workers looking for full time work involvement.

Again, even if the economy shows a rising trend and the consumer demand rises, the employers are most likely to extend working hours of their part-time employees. The fact further narrows down the scope for fresh hiring, claimed experts.

U.S. economic struggle affects world markets
Japan's stock exchange Nikkei 225 index dropped by 2 percent, while South Korea's Kospi Composite Index fell by 4 percent. Following the trend, Hong Kong's Hang Seng also plunged by 2.2 percent.

As the downward trend of the U.S. economy continued to hurt major benchmarks; in Europe, Britain's FTSE 100 sank 2.0 percent, while Germany's DAX and France's CAC-40 slumped by 2.9 percent and 3.3 percent respectively.

Ben Potter of IG Markets in Melbourne, Australia says, "The problem is that there simply hasn't been any meaningful jobs growth, which is precisely why markets are so worried about slipping back into recession," said.

But, sadly there is nothing much authorities can do about the problem, he added.