The light at the end of the tunnel...is a freight train.

09/07/2012

 
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The light at the end of the tunnel...is a freight train. The latest supposed 'good news' regarding the unemployment rate is hardly that. While the rate appears to have dropped from 8.3% to 8.1%, the facts are that the drop is due largely to over 350,000 Americans who simply dropped out of the unemployment insurance program...essentially 'giving up' on finding another job. While the report also said that 96,000 workers have been added to the workforce, it is far less than is needed to make any sort of discernible impact. Meanwhile, fewer hires and possibly even more layoffs are ahead as $600 billion in tax increases and spending cuts are set to take effect automatically at the end of the year unless Congress acts to change it. As a result, most companies are holding off on hirings, and some larger companies already have plans on the chalkboard to cut thousands of jobs if those tax increases and spending cuts go through. 

If the struggling economy has left you in a difficult financial situation, there may be legal remedies to protect you from creditors and save you from financial disaster. For a free consultation, call our office at (731) 423-1888 or (615) 371-6136.
 

UNEMPLOYMENT drops to 8.2.....but do you know the real reason WHY?

05/11/2012

 
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Unemployment rates decreased from 8.3 to 8.2...but while they are trumpeting that 120,000 new jobs were created, what they are NOT saying is how much of that .1% drop is attributed to people NOT getting jobs, and instead falling 'out' of the labor market. Details from the Department of Labor (click on the graphic to enlarge) show that we have reached an all time high of almost 89 MILLION people who are not categorized in the 'labor force' any longer. Who does this consist of? The definition is: 'people 16 and over who are not classified as members of the labor force: housewives, students, retired workers, seasonal workers, AND THOSE WHO NO LONGER QUALIFY FOR UNEMPLOYMENT BENEFITS AND HAVE QUIT LOOKING FOR WORK OR ARE UNABLE TO FIND WORK." Those are the 'employable ghosts' who are dropping off of the 'unemployment' radar and into the darkness of the 'not in labor force' classification. When THOSE numbers increase, the 'unemployment rate' is affected in a positive way ~ as they are no longer a part of the equation. Don't be fooled by the alleged good news of unemployment rate drops...until you are up to speed on what exactly determines those numbers.  If you, or someone you know has been affected by the bad economy and are in need of debt resolution help. Contact us for a free consultation about your potential legal remedies. First consultation is free. Call 423-1888.