The Frugal Pig » unemployment

June 2009 Unemployment Figures Spike Up Again in US

Oink — Thu, 02 Jul 2009 16:28:53 +0000

When will The Recession End?

Just when we thought things were getting a bit better, the US economy is showing some alarming symptoms of staying in the pits! After almost half a million jobs were cut in June, 2009, the jobless rate is at 9.5 percent. Folks, that is getting really close to 10 percent, and that number probably does not take into account many millions of people who are underemployed or who have just given up on the job hunt for right now.

The Worst May Still Be To Come

Many economists do predict that the unemployment rate will hit 10 percent this year, and perhaps peak out at 11 percent, until companies are certain that the nation’s economy is stable and they can begin hiring more people again.

And the grim jobs data has also started pulling the stock market back down. Bad news does that. This is a time for people to hang on.

Online Work For Jobless People

Meanwhile, as desperate job seekers lurk on the internet, make sure you keep an eye out of online job scams. That is not to say you cannot find plenty of legitimate online work though.

Look at some online freelancing ideas.

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Prepare for a Recession

Oink — Fri, 10 Oct 2008 15:17:21 +0000

Well, now there is no doubt about the fact that the US, and the world, is enduring an economic downturn. We have been watching financial leaders and politicians deny if long enough, but even they are admitting it now. However, as much as we are all struggling to watch our expenses and keep our savings, we do find that some people do ok during a recession, and some people even prosper! What is the difference between those that can barely survive the crisis, and those that make out ok? I think the difference is being, just like a Boy Scout, prepared!

Look for some practical tips here: Surviving a Recession. It is mostly downhome advice like saving money, reducing debt and preparing yourself for a job loss. But it also contains some unique tips on making some income during unemployment with freelance jobs that you may not have thought of.

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Prepare For A Job Loss

Oink — Tue, 09 Sep 2008 16:02:37 +0000

You Can Prepare For a Job Loss

A good friend of mine had been a very productive team member at his job for years. In fact, his team even got recognized for a couple of patents, and he was certain that his company valued the contribution he made. A few short months after he brought home his certificate and bonus money, the company decided to outsource his group. He arrived at work on Friday and was told he would not need to report in on Monday. Needless to say, he was unprepared for the job loss, financially or emotionally, and it was a devestating event in his life.

Prepare for a Job Loss

Companies are cruel these days, and few employees are really safe. In fact, over a million and a half workers were laid off in the last 12 months, and I’m sure most of these people were very good employees too. Most of us will get laid off a couple of times in our working lives. We cannot possibly prevent every possible reason for a job loss, but we can prepare ourselves.

Save Your Money, Just Like Dad Said

Your financial advisor, your friends, and your dad will tell you to sock away 3 – 6 months worth of living expenses. You need to have that money saved in a way that can be easilly accessed. Have you dont that? Well, if not, don’t waste time feeling bad about it. Honestly, I have the savings now, but I can tell you that I’ve had plenty of times in my life where I was lucky to have a week’s worth of living expenses saved in a cash account.

I know how hard it is to save, especially these days, with high fuel and food costs. Besides, one trip to the emergency room or mechanic can wipe out months of savings in about five minutes. It isn’t always possible to keep as much cash on hand as we should. And though I always advise people to look at their lifestyle for places to cut expenses if they just cannot save, I also have another suggestion.

Insure Against Job Loss

Look at job loss protection plans that pay you, and not the lender. Some mortgage unemployment insurance or credit insurance pays the lender. However, since you are the one paying the bill, I think you should be the one to get the cash!

Prepare Emotionally For A Job Loss

Also be sure to emotionally prepare yourself. Honestly, I have seen depression get to lots of people, almost as much as a loss of income does. A layoff can be a major ego blow, even though most layoffs are not personal at all. Understand that this is just one of those bumps in the road that almost everybody goes thorugh. Also know that many people – myself included – look back and say that, even though we did not feel that way at the time, that a layoff was a blessing, because it led to a better opportunity later. If you get the news that your services are not needed any more, stay cool. Some layoffs are temprorary, and no matter how angry you are at the moment, remember the other good advice your dad gave you about burning bridges. Gosh, the older I get, the smarter my dad gets!

Make sure you have your friends and business contacts stored where you can get to them if you cannot login at work too. You do not want to lose all of your valuable contacts just because you cannot get into the front door at work. The best way to find a good job as quickly as possible is through your network, and do not underestimate it.

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Worried About Layoffs?

Oink — Tue, 09 Sep 2008 02:46:21 +0000

We haven’t been getting very good news about employment in the US lately. And of course, all economic news, with the bailout of the mortgage giants, is pretty grim. In fact, home foreclosures hit a record in the 3rd quarter of this year. And if you think that the bailout will help the situation, you might want to read this article: who does the mortgage giant bailout help?

Prepare for an Income Loss

Do home mortgage defaults and layoffs have anything to do with each other? Well, according to the much maligned Freddie Mac, unemployment or income loss is the leading cause of mortgage default. In an ideal world, we would all have 6 months of income stashed in a bank account in case of an income loss. But lately, with rising gas and food prices, most of us have had to dig into that savings account.

So what can you do? Well many people can qualify for a supplemental job loss protection program. Instead of a loan company financed mortgage protection plan, which only pays the mortgage company, you can get a plan that actually pays you cash if you are layed off. I think that giving the consumer the choice of how to allocate the cash, rather than the loan company, is a better deal to protect a family’s home, credit, and finances.

Learn more about Job Loss Payment Protection Here.

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Dental Plan For Unemployed People

Oink — Mon, 01 Sep 2008 04:18:40 +0000

Lose Your Job and Dental Benefits?

One of the big stresses during a period of unemployment is the loss of benefits. Of course, the loss of health insurance is major, but you may have a COBRA health plan extension available.

A more immediate program may be dental care, and sometimes it can be tough to find an affordable dental plan for the unemployed.

However, large dental discount plans cost a few dollars a month and many offer very cheap, or even free, routine dental care like checkups and cleanings. Other services, which cannot be deferred until a job is found, are also offered in the network at greatly reduced prices.

FIND A CHEAP DENTAL DISCOUNT PLAN IN YOUR AREA. If you are between jobs, or if you current job does not offer dental benefits, a dental discount network can help you access good dentists.

If you already have dental coverage, but find that it does not cover orthodontic braces, cosmetic work, dentures, or some other major services, a dental discount plan can save you money too! And you will not have a waiting period, but should be able to use your benefits as soon as your membership approves. Memberships can be applied for online, and people can usually access their benefits right away.

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Layoff Insurance for Unemployment Mortgage Protection

Oink — Wed, 27 Aug 2008 17:46:34 +0000

US Home foreclosures in July, 2008 were up 55% over the previous July, and many Americans are concerned about their financial stability these days. Companies are eliminating positions, and state unemployment benefits will not cover the mortgages, auto loans, and other bills that most families have. That is why many people are planning ahead by looking for mortgage unemployment insurance.

This type of layoff insurance provides a cash benefit. The cash can be used in any way it is needed, and is not tied to one particular debt, like a mortgage, as is the case with many other types of credit insurance. This allows the owner of the benefit to control how it is used, and we believe this control is in the best interest of the consumer, and not just the best interest of lenders.

Layoff insurance offers affordable rates, and can be a valuable financial planning tool for working people.

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