Bad Credit Blues

 The Economy is Sound? Right!

This reminds me of when the talking heads on TV, and certain conservative politicians, were telling us how strong our economy is! The jobless rates has climbed to 8.5% in the US, and over 663, 000 jobs have been lost. This is the highest jobless rate since 1983, and job losses have come from a variety of business sectors in the US.

Since the recession was acknowledged to have started in late 2007 (not that anybody was admitting it), Americans have lost over FIVE MILION jobs. However, we have to admit that the past few months have posted most of the job losses.

The number of unemployed people (unemployed and seeking work) is over 13 million.

Who Is Unemployed?

Factor in part time and discouraged workers, and you can probably add two million to that total.  Some workers have just given up looking for a job in their normal field. So they take part time work, or a lower paying job, to keep bills paid.

 Even though they may not consider themselves well employed, they may not be counted under the unemployment numbers. In other cases, a spouse who is unemployed, may just count on the other spouse’s income for awhile.  Or many younger people move back in with parents or visa versa. Though these people’s unemployment situations are not stable, the move off of the actual unemploymet counts.

And now economist believe this will last, at least, until the end of the year.

Any Good News About The US Economy?

Well, factories reported an actual increase in orders in February! Of course, they had declined for the previous 6 months. But still, maybe lower prices are spiking a bit of interest. And after half a year of decline, consumer spending inched up a bit in the beginning of the year.

Maybe things can only get soooo loooow!

Read More: Employment and Unemployment Articles