Jobs Data Shows Increasing Unemployment
Jobs data was reported this morning, and the verdict is in: Increasing unemployment is the trend. The Wall Street Journal reports on unemployment:
The U.S. unemployment rate posted its sharpest one-month increase in 22 years last month, suggesting U.S. consumers already facing a housing slump and soaring gasoline prices now confront growing pressure from a weakening jobs market.
Even if we are not in a recession — and even if we manage to avoid one — it is a good idea to treat your personal finances as though that is where we are headed. If you are worried about your job, now is the time to take a few steps:
- Adjust your monthly budget and start trimming the excess.
- Put a little more into your savings emergency fund.
- Update your skills and your resume. (And check your network contacts.)
- Try to pay down a little more debt.
Even if you don’t lose your job, you’ll have peace of mind — and be in a better position.
Tags: economic trends, increasing unemployment, job recession, jobs data, personal-finances, recession, unemployment, update resume, yielding wealthRelated Stories
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1 opinion for Jobs Data Shows Increasing Unemployment
Mortgage Insurers Find Themselves Downgraded - Mortgage Rate News
Jun 6, 2008 at 9:34 am
[…] may not be over yet. Other problems, including those indicated by this morning’s release of unemployment data, could accelerate the foreclosures. After all, increasing pressure on the job market could mean […]
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