UNEMPLOYMENT IN THE NEWS
The unemployment rate went up to 9.4% for May, a 0.5 percent jump, and it is expected to keep going up! Some forecasters expect it to hit double digits sometime this year! Some states have been in double digits for quite some time. Be prepared for a long period of unemployment and, for some of you, no money when the extension(s) run out in December.
As of June 20, 2009 the figure for seasonally adjusted initial claims was 627,000, up 15,000 from the previous week's revised figure. The past 4-week average of initial claims being filed was 617,250, an increase of 5,000 from the previous week's revised average of 616,750. Experts still project 10% or more by next year.