The Economy: Where Are We At? Unemployment Spikes Again

Just when it seems like our financial troubles are on the mend, the long arm of despair has reportedly 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 financial struggle and 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 an energy swing.

Auto Employees Behind the Unemployment Numbers?

In hindsight, it might be more correct to agree 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 filings 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 larger than most would think; a scary notion, but one that has gone overlooked 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.

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This entry was posted on Friday, August 21st, 2009 at 10:53 am and is filed under Economic News: How Are We Doing?, Finance 101: Secure Your Future. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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