Jobless Rate Hits 5 Year High-Is It Time To Look For A Home Business

September 5, 2008

Plan Ahead and Start Your Home Businesses-You Could Be Next

Baby Boomers…I hate to be the one to tell you, the bearer of bad news…but…I am sure that you have pretty much figured this out for yourselves…The nation’s unemployment rate has rocketed to a five year high of 6.1 percent in August.

It is reported that employers slashed 84,000 jobs. needless to say from an economy that is in deep poo-poo. Inflicting it’s tolls on workers and businesses alike.

The Labor Department’s report on Friday, blamed the increasing toll on housing, credit and financial crises, for making the economy go down the tubes. I think they forgot to mention the stinking price of gas and the war as well…go figure.

News like this will affect Wall Street and the Dow Jones industrial average was already down about 40 points in midday trading. Major stocks were hoping for an end of the year recovery but I just bet they can through those hopes in the toilet and flush.

History shows that when the employment situation deteriorates, that consumers will recoil, throwing the economy into a tailspin and experts are projecting just that, later this year or early next year.

The jobless rate jumped to 6.1 percent in August, from 5.7 percent in July. And for the eight month in a row…that is all year for those who can’t do the math, employers cut payrolls.

Job losses in June and July turned out to be much deeper than expected, losing a grand total of 100,000 jobs in June and another 60,000 in July. So far, for the eight month period, job losses totals 605,000.

Here is what Yahoo has to say about the joblessness
And CNN has a report that is a month behind but will give you a good glance as well.

~The Baby Boomer Queen~

BBAC Information on Business and Opportunities for Baby Boomers

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