Recent unemployment report had a spike in the amount of Americans filing for unemployment benefits, which basically tells everyone out there that the jobs picture isn’t getting any better. These people had probably just been let go because they were only employed during the Christmas season.
Add to this the millions of people out there who couldn’t find jobs and have given up looking. Funny enough the U.S Government reports do not count these people which means that the real unemployment rate is much higher. This is just another way the the U.S Government is cooking the books and making the employment pictures seem better than it is.
Don’t believe government reports, because they are designed to always paint a rosy picture, so you keep your purse strings or wallet open. You think the economy is not that bad then you spend, instead of saving. Meanwhile, you really do not know if your job is even safe.
I know things are not going to turn around in the near future, so currently I am building a nest egg (emergency fund) that will cover up to 8 months of expenses in case my company decides to cut employees.
Recently at my work another senior sales account executive was let go, and I’m not even in the U.S and things are still looking bleak in the employment arena. Read the article below to get the real picture and keep your eyes open on the next unemployment report.
http://finance.yahoo.com/banking-budgeting/article/111801/downturns-ugly-trademark-steep-lasting-drop-in-wages?mod=bb-budgeting
by Das Brain
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