The economic crisis that we are experiencing in the United States is not only effecting Americans. Those in Croatia are feeling the same effects as well as job loses. This week in Croatia over 150 jobs were lost per day and it is estimated that upwards of 50,000 jobs could be lost by the end of the year. Although this number seems relatively small in comparison to the job loses in the United States, the effects are still important.
Because of the job loses and many of the economic struggles that the world is feeling right now, many companies have lowered their product costs, and have frozen salaries. Also, of the 117 different industries, 83% of them are feeling the effects of this struggle.
Institutions such as the Croatian Employers' Association (HUP)have made guidelines in attempts to reverse the effects of the difficult economic times. Some of the ideas that they have tried to implement are putting time restraints on financial dues owed to the state.
No ultimate decisions have been made however there are many people who are worried about the outcome of this economic struggle. Croatia hopes to reduce the amount of jobs lost each day and strengthen their economy.
By: Jennifer McKenzie
Croatia Group
Sunday, March 1, 2009
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