The U.S. saw another 284,000 jobs lost in October

Jennifer McClelland | RSS | Wed, Nov 04 2009 | 3 Comments

According to Trim Tabs Investment Research firm, the United States shed another 284,000 jobs for the month of October.

The results came out today from the research firm. While it is less than the 358,000 jobs that were lost in September, it still makes the total number of jobs lost 5.9 million in the last 12 months. Not only are the jobs being lost, but people are also having a hard time making the amount of money they once were.

The research firm made another note in its research that salaries are still falling. The level of salaries from September 2008 to September 2009 dropped 5.3% and from October 2008 to October 2009 4.6%.

The firm obtains its information from analysis of daily income tax deposits to the Treasury from the amount of salaried United States employees.

The unemployment figures for the month of October should be coming out in the next week or so. The official report will tell us just how bad we did for the month. I don’t think that October will be as bad as September was, however, there is an issue regarding how many jobs were created versus jobs lost. Also, like I always say when I write a post about unemployment, the only people who are counted in unemployment figures are those who are actively seeking work.

There are a lot of people out there who have given up on the job hunt for right now. I would like to see a report on those people, honestly. I believe that a report like that would give people a real idea as to how many people do not have a job right now. It should be broken up into categories such as “stopped looking” or “not interested” just so everyone can tell the categories apart. If everyone was lopped into a “don’t have a job and not looking” category, that would include everyone from exasperated ex-business executives to new moms (or dads) who want to stay at home and take care of the baby.

Related posts:
Retail numbers were positive for October
Consumer confidence drops for October

Tags: 12 months, tax deposits, hard time

Retailers are having a hard time moving summer items

Jennifer McClelland | RSS | Tue, Jun 30 2009 | 0 Comments

While summer officially began just a couple of weeks ago, many retailers are already putting their summer merchandise on sale and to the clearance racks dismissing this summer as a complete wash.

Department stores like Macy’s have discounted summer clothing and swimwear down 50%. Other retailers have slashed the prices of barbecue grills, tents, gardening tools, and piles of clothing. Some of those items are going straight to liquidation rather than to the retail stores.

This is good for people trying to save some money, but it is a bad sign for retailers as it shows that retail sales have been weakening since the end of May.

Consumer confidence increased in April and May, but is predicted to level off for the month of June. The figures, which come out later today, won’t be helped by the major retailers releasing June sales results next week. Consumer spending makes up 70% of the economy and if consumers are worried about the economic condition, chances are that spending won’t increase too much in the near future.

Fall merchandise will start hitting shelves in August, so these retailers are trying to move summer merchandise to make room. This could mean that we’ll see more discounts like we did last year for clothing.

Some are blaming the weather, which has been particularly rainy for parts of the country. The rain has led to unseasonable weather. However, where I live, it has been unbearably hot with little rain to help. Then again, when I go through the “summer” section of any local stores, the shelves have been nearly picked clean.

Some are still worried about the economy and think it’s to blame for the lack of consumer spending. Employers are still cutting jobs (even if it is at a slower rate than the beginning of the year) and the average price for a home is still falling.

Related posts:
Retail numbers were positive for October
What are retailers discounting right now?

Tags: economy, liquidation, retail sales

The Pitch – Is Online Banking Really the Way to Go?

Jennifer McClelland | RSS | Tue, Apr 21 2009 | 3 Comments

Is Online Banking Really the Way to Go?

Question:

With identity theft as well as bank systems having a hard time surviving in the current economy, is online banking really the most efficient and safe way to go?

Answer:

Banking systems are safe. There are rumors going around the internet that banks are unsafe and aren’t the place you should put your money, but you have to realize that the FDIC has your best interests at heart and unless you carry a balance of over $250,000 in one bank account at a time, you’re fine.

That being said, online banking is also safe as long as you double and triple check the website address before you enter your personal information in the site.

While I know this wasn’t an attempt to grab my bank account information, it was still an attempt to take some of my personal information: I was on MySpace.com and a friend had posted a bulletin about something that had a link in it. The link was to rnyspace.com…Notice the RN makes the “m” in myspace.com…This has to be watched carefully to make sure you aren’t being “phished” for information.

When you’re careful, online banking is safe and efficient.

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Related posts:
The Pitch – When Online Companies Rip You or Someone You know Off!
The Pitch – Would you be willing to shop for your prescriptions online?
Do You Really Need to Open a Swiss Bank Account Online?

Tags: The Pitch, website address, identity theft