Unemployment claims drop, perhaps boosting economy

Unemployment claims drop, perhaps boosting economy

Applications for unemployment benefits have hit a four-year low, according to U.S. Labor Department, which suggests that the economy is continuing to recover.

The new numbers show that fewer Americans are being laid off from work, and more are finding jobs. According to the Washington Post, statistics also suggest the housing market is picking up steam. However, we know that even as new jobs are being created and inflation is remaining relatively tame, many people in Mesa and throughout Arizona are still in genuine need of debt relief.

Unemployment benefit applications have been declining for five months in a row, but there are still people who are in need of these benefits. And, even some of those who have benefited from finding a new job may still be swimming in debt that was incurred during the recession or the housing market's collapse.

While the news is certainly encouraging for the economy at large, it probably does not offer enough comfort to those who are out of work and struggling to make ends meet.

News that the economy is shifting gears is good to hear, but inevitably, it amounts to too little, too late for many Arizona residents. Those who are struggling with debt may want to have a discussion with a bankruptcy attorney about what debt relief options might be available to them. For those who are good candidate, bankruptcy protection allows you to settle debts, and put an end to lawsuits, wage garnishment and creditor harassment--allowing you to head into the economic recovery debt free, with a fresh start.

Source: Washington Post, "Drop in unemployment claims points to another month of strong hiring, lifting overall economy," Feb. 16, 2012

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