The stagnant economy and seemingly never ending recession has left many Americans unemployed, despite the fact that many economists fight that the recession is over and signs of the tide turning are just around the corner. Unfortunately, numbers discharged as lately as June 2010 tell a varying story.
According to MarketWatch, from numbers released by the U.S. Labor Department, unemployed claims from first time applicants saw a rise of 12,000 this season and now stands at 472,000. This report comes in spite of the fact that the number of layoffs is down from its peak last year. Basically, the economy is improving and jobs are being created but it is happening so slowly that the unemployment rate continues to be too high to call the raise "robust job growth."
Jobless Claims and Bankruptcy
A significant effect of the surge in unemployed claims is a spike in bankruptcy claims as well. Bankruptcy rates are at an all-time high all over the country and the reason many Americans are filing bankruptcy at such a high rate has to do with being jobless.
When you're jobless it can be difficult and sometimes even not possible to pay your bills. You can't possibly stay on top of mortgage payments, automobile loan payments, credit card bills, student loan payments, and every other type of loan or debt without stable salary. That is why bankruptcy happens.
If you're buried under bills and don't have the means to pay them off then it is time to seek out debt solution of some kind. Ideally, a debt consolidation or credit counseling service will be able to solve your debt problem but if that isn't an option then it is time to seek out a licensed bankruptcy attorney. Talk to one in your area today about any issues you have with unemployment and how bankruptcy can help solve those issues.
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