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Debt consolidation could help as job market to remain about the same
By Sam Craine on Jul 1st, 2010
One of the key factors in being able to pay off debt is having a job, although people who are out of work can expect a similar employment situation to what they've seen so far this year.
According to a recent survey from CareerBuilder and USA Today, 41 percent of hiring managers said they plan on adding employees from July to December. Of those, about 20 percent said they are going to tack on more full-time positions during this year's third quarter, a mark that is similar to the last two quarters.
"Employers began recruiting at a moderate, but consistent pace in the first half of 2010 as confidence levels inched upward amidst a better global financial picture," said CareerBuilder chief executive officer Matt Ferguson.
Throughout the recession, some consumers found themselves without work, as businesses shaved off positions. With employment opportunities low, many people may have had to burn through their savings or rely on credit card debt to make ends meet, including purchasing groceries or paying rent.
With interest rates on credit cards higher these days, some consumers may consider debt consolidation, which could lead to them paying off these expenses at a quicker rate.
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