According to reports, over 56,000 Tennessee residents have filed NEW unemployment claims so far this month.
While new Tennessee unemployment claims HAD improved to averaging 7,800 per week October through December...that number has suddenly exploded to averaging 19,000 new claims per week so far this year.
In total, over 1 million new unemployment claims were made by Tennessee residents since the pandemic 'officially began' mid-March of last year. More than 1 million Tennesseans, and hundreds of thousands of households, affected by the COVID 19 crisis. Real people, with real families.
And those are just the residents who decided to file for unemployment.
There are untold thousands more who instead chose to take a reduction in pay, take a part time job, take another job for less pay, start a business of their own, or move in with other family members.
Additionally, there's yet another layer of families who have maintained their job, but due to negative effects on their wages or chances for advancement, have been forced to cut their budgets, dive into fast dwindling savings, and rely on credit lines or credit cards. Families with children have been especially hard hit, due to in-home schooling, additional day care needs, or one spouse being forced to quit or furlough their job to oversee the household's day to day needs.
And despite what some say, there literally ARE fewer jobs available. New information from the Tennessee Dept. of Labor verifies there were over 100,000 fewer jobs AVAILABLE in Tennessee in December 2020, compared to December 2019. (here)
The bottom line is that most all Tennessee families have been impacted by this crisis, and while they have been able to keep their heads above water, the water continues to rise.
Smart families are planning their next steps, including debt resolution or bankruptcy choices.
If you already feel your financial situation is out of control...contact us for a FREE CONSULTATION for debt resolution and/or bankruptcy at (731) 423-1888.
The law office of T. Verner Smith has helped thousands overcome financial problems, and can help you too. Call today!
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Call us at (731) 423-1888