Last July 23rd, 2009, KAWRA had a great picnic and lunch. Korean American Women's Realty Association having tough time with their slow businesses due to the economic crisis but, they keep cool and positive attitude and hoping to recover the eonomic crisis. Hee Jong Lee led the games. One of the game, three legs of race and pop, pop balloon game exposed the most laughing and cool summer to remember.

The community leaders, Jong Jong Lee (KACW, Advisory Board),KOCW, Board Chair, Enice Jong, KAS, President, Yoo Sang Jae, KWA Vice President, Grace Park, KWA, Board members, Chong Dameron, Dori Synn, and Sandra Englund attended this event.

KAWRA president, Lee Jae Hee's and KAWRA Leaders, Susan Lee, Ji Un Jong, Im Kyong, and Judy Moon, Lee Hee Jong, and SoonA Kim made extra effort to make this event in order to keep their spirit up lifting altough they are having tough time with their slow businesses. But, they have kept smile and laugh.

CNN reported that The global economy is nearing the bottom of its worst financial crisis in 60 years, according to the latest assessment from the Organization for Economic Cooperation and Development (OECD).

The Washington-based organization, Japan is expected this year to experience its worst recession on record.

"Accordingly, we forecast that Asia's growth will decelerate to just 1.3 percent this year before rebounding to 4.2 percent in 2010, still well below the region's potential and the 5.1 percent rate recorded in 2008," said Kalpana Kochhar, deputy director of the IMF's Asia and Pacific Department.

Unemployment rates were higher in June than a year earlier in all 372 metropolitan areas, the Bureau of Labor Statistics of the U.S. Department of Labor reported on Wednesday, July 29, 2009. Eighteen areas recorded jobless rates of at least 15.0 percent, while 9 areas registered rates below 5.0 percent.

The national unemployment rate in June was 9.7 percent, not seasonally adjusted, up from 5.7 percent a year earlier. Among the 369 metropolitan areas for which nonfarm payroll data were avail- able, 352 areas reported over-the-year declines in employment, 16 re- ported increases, and 1 had no change.

However, there is an optimistic, according to POLITICO news, President Barack Obama’s economic forecasts for long-term growth are too optimistic, many economists warn, a miscalculation that would mean budget deficits will be much higher than the administration is now acknowledging.

The White House will be forced to confront the disconnect between its original, upbeat predictions and the mainstream consensus about how the economy is likely to perform in a new budget forecast to be unveiled next month.

Christina Romer, chairwoman of the White House’s Council of Economic Advisers, said in a POLITICO interview that the administration — like many independent economists — did not fully anticipate the severity and pace of this recession. She said the White House will be updating its official forecasts.

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Many are hoping to recover from the internal and global economic slow-down.

Even if we have the worst economic crisis and KAWRA people are having tough time with their slow businesses , It's the truth that they keep their spirit uplifting and smile.

Resources:

CNN

Politico

Bureau of Labor Statistic.