Are you overwhelmed with the economy crisis; 533,000 jobs slashed in the month of November of 2008 alone; the highest in 34 years! Unemployment rate is currently at 6.7 percent, a 15 year high and within the state of TEXAS as of 2009 show an unemployment rate of 5.7 percent, down by 1% yet still a true sign of recession. Since the start of the recession back in December of 2007, the economy has lost 1.9 million jobs, the number of unemployed people increased by 2.7 million and the jobless rate rose by 1.7 percentage points. As mentioned by President Elect Barack Obama; “this matter will get worse before it gets better.” As we can see it’s getting worse by the day.
General Motors Corp., AT&T Inc., DuPont, JPMorgan Chase & Co., and many other well-known companies have announced layoffs. At 12 months and counting, the recession is longer than the 10-month average length of recession since World War II. The record for the longest recession in the postwar period is 16 months, which was reached in the 1973-75 and 1981-82 downturns. The current recession might end up matching that or setting a record in terms of duration, analysts say.
As of Sept 2009, we currently have a 5.7 percent Unemployment rate in the State Of Texas and high as 9.6 percent as it currenly is in Michigan State.
Confucius
Success depends upon previous preparation, and without such preparation there is sure to be failure.
One must question at this point: “How will this affect me?” Suppose you are one of the persons laid off from your job and now you can no longer pay all your bills, none the less pay the mortgage or rent nor can you supply the family with enough food to get you through your day to day transitions, you can no longer travel as you once have due to the inability to buy gas for your car, you can no longer buy those odd items you wanted only due to now we have to REFOCUS our attention to our immediate needs.
Life; as we see it is basically like a charge card; which is designed to give us what we WANT right now while on the other hand keeping us enslaved to the financial downfall with our economy. Empowering ourselves with charge cards, loans, etc… we have placed ourselves and our families within a credit crunch and we as individuals are calling for a bail out plan.
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