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Drop in unemployment may help some, while consumer credit counseling can help cut expenses
By Oscar Monfort on Jul 5th, 2010
Unemployment declined in June, even with a drop in the number of jobs available in the country.
Because the government does not include people who are no longer looking for work, even a decline in employment available can still lead to a drop in the jobless rate. Much of the drop was accounted for part-time jobs from the Census Bureau coming to an end, although the private sector did manage to contribute an additional 83,000 positions during the month.
Labor Secretary Hilda Solis said that the increase in private-sector employment is an encouraging sign, although the government recognizes the fact that more work has to be done to get people back into the workforce.
"That's why the administration continues to work to extend some of the tax credits, unemployment assistance and other programs that have helped us get through the worst part of the recession," Solis said.
Not having a job for a while can have far-reaching effects for consumers, including making it more difficult to pay off credit card debt or other bills. However, consumer credit counseling may be one option to consider, as it can help cut unnecessary expenses through developing a budget.
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