The day you’re laid off can be one of the worst days of your life. If you are unemployed, you know how challenging the job market is and how hard it is to find a new job. One thing you may be worried about is your credit, and whether your credit will take a hit while you are unemployed. Here are some things you need to know about unemployment and your credit.
Evaluate Your Savings
Before you panic, you need to take a step back and come up with a game plan. How much money is in the bank? Do you have enough money to pay your mortgage and other bills for the next few months? Did you receive a severance package? Are you eligible for unemployment compensation? Either way you need to cut your expenses to the bone. Evaluate ongoing subscriptions, stop eating out, going to movies, etc.
Unexpected unemployment is a major reason why experts suggest having a cushion of savings of at least 3 months (and preferably 6 months or more). If you only have a few hundred dollars in your savings account, you may need to [Read more…] about Unemployment and Your Credit
Whether the Quantitative Easing is actually having much of an effect on unemployment or not is a discussion for another day. But as we said in a recent article entitled: 
This is excellent news for employers as it means that businesses across the UK are expanding and growing at a healthy rate. As well as this, Companies House reports that there are still over 3,000,000 businesses in the UK and only 2,486 were liquidated in July. So, if you’re just starting your business the outlook appears broadly positive- although there’s still a lot of hard work to do!
In February, I got an answer, not directly mind you, but when I looked at the January Employment numbers they have magically changed all the way back to July of 1991. Yes, “unadjusted” employment numbers have been adjusted, changed, fudged, manipulated whatever you want to call it.
“Let’s declare that in the wealthiest nation on Earth, no one who works full time should have to live in 
If you find yourself suddenly unemployed, one of the first things you need to do is find ways to cut your expenses. There are some things that may be set in stone, such as your rent, but there are many other things that are negotiable. Start by making a list of your bills. Flag things that can be reduced–electric, water, gas, telephone, internet. Get your entire family in on the plan so that you can brainstorm money-saving ideas and put cost-cutting measures into action right away. Finally, reduce your other bills. Contact various insurance companies for better rates. Call your credit card companies to ask for a reduction in interest or payments. Refinance your loans (if you can do so cheaply) to get a lower rate and a lower monthly payment; If you can’t refinance, request an extension.
The media has depicted a crisis in the American manufacturing industry. Though the manufacturing industry has significantly shrunk in the U.S., no one can deny that the manufacturing business is still very strong. Manufacturing generates over 1.5 trillion dollars (more than 10 percent of the GDP) to the U.S. economy every year, and it employs over 17 million citizens. According to the United Nations Statistic Division, the U.S. produces more manufactured products than any other country in the world. The U.S. makes more than 20 percent of global manufactured products, compared to China’s 15 percent (second place) and Japan’s 12 percent (third place).