Bankruptcy

The Economy: Where Are We At? Unemployment Spikes Again

By Meaghan Olson

Just when it seems our financial trouble is on the mend, it seems the long arm of despair has grabbed hold of more unassuming citizens.

In a two-week period that started with 48,000 new jobs created and ended with 15,000 new unemployment claims, it?s dizzying to try and make sense of what is happening.

To even try to distinguish a trend would be maddening, but which figure is more indicative of our national presence?

Are we a nation on the rebound?

Or are we a damaged nation burdened with a financial struggle with no relief in sight?

15,000 More People File for Unemployment in a Week

Unemployment claims increased by 15,000 to 576,000 for the week ending August 15, according to the recently released Department of Labor’s weekly report.

This increase from the previous week’s revised figure of 561,000 is more like a teeter-totter of information. It might not be accurate to consider the previous week’s 48,000 decrease in unemployment filings as an energy swing.

Auto Employees Behind the Unemployment Numbers?

It might be more relevant to agree in hindsight with the spectators of this figure who offered their explanation that the decrease was directly related to an early return of automotive factory employees and not a spread throughout the general population.

In keeping with this notion, it might also be prudent to consider that the increase of fillings by 15,000 may not represent those who are new to unemployment, but rather those who had lost their jobs and assumed they would find another soon enough to not need unemployment.

Which then begs the question:

If newly created jobs are on the rise, why aren?t they being filled by these 15,000 filers?

It is imaginable that this group of unemployed is far greater than most would think, a scary notion but one that has gone blind to this point.

No matter which side of the line is chosen, it?s clear that the turbulence has yet to subside and the best plan is to stay seated and ride out the storm.

Have you lost your job? Do you have bills piling up? You may be able to eliminate your debt by filing bankruptcy.

Full post as published by The Bankruptcy Blog on August 21, 2009 (boomark / email).