Friday, August 06, 2010

Econo-ME ::: Paycheck to Paycheck

“Initial requests for jobless benefits rose last week to their highest level since April, a sign that hiring remains weak and some companies are still cutting workers. The Labor Department said Thursday that new claims for unemployment insurance rose by 19,000 to a seasonally adjusted 479,000.”

“’But the jump in claims is a cautionary sign that higher corporate profits and a slowly recovering economy aren't spurring companies to generate many jobs. ‘The very unyielding flow of layoffs now clearly evident discourages any thought that employers are more comfortable with the size of their staffs,’ Pierre Ellis, an economist at Decision Economics, wrote in a note to clients.” (“New jobless claims take surprise jump,” Associated Press, 8/05/2010)

Odd mix of bad news...
Stocks tumble...

U.S. employment fell for a second straight month in July as more temporary census jobs ended while private hiring rose less than expected, pointing to an anemic economic recovery.

“Non-farm payrolls fell 131,000 the Labor Department said on Friday as temporary jobs to conduct the decennial census dropped by 143,000.” (“Jobs Picture Worsens with 131,000 Job Losses; 9.5% Rate,” Reuters, 8/6/10)

Families have it rough, trying to scrape by, keeping food on the table while avoiding mortgage foreclosures and vehicle repossessions.

Here's a "blast from the past" via NCN blog ::: 10 Steps To Escaping The Paycheck To Paycheck Cycle
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