Earn What You Spend

As you may know if you read this blog, I live in Brooklyn, New York.  Although the subway is my primary means of transportation, I occasionally indulge in using a car service to get to the airport or during exceptionally rainy days.  This is not, as those who live in Brooklyn can attest, an extravagant [...]

From the WSJ:
Meanwhile, the number of U.S. workers filing new claims for state unemployment benefits soared last week to match the quarter-century high reached in December, suggesting layoffs continued unabated into the new year.
Initial claims for jobless benefits jumped 62,000 to 589,000 after seasonal adjustments in the week ended Jan. 17, the Labor Department said [...]

To get an understanding of the current situation in layoffs and unemployment claims, take a look at this graph from this morning’s Wall Street Journal: 

Source: WSJ
We’re seeing quite a number of layoffs from major corporations:  AT&T, Dupont, Credit Suisse, Viacom, Avis and more.  With the exception of Credit Suisse, these companies have not been on [...]

More confirmation of the long road ahead came out this morning: 
Nonfarm payroll employment fell by 240,000 in October, and the unemployment rate rose from 6.1 to 6.5 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. percent, the Bureau of Labor Statistics of the U.S. Department
of Labor reported today. October’s [...]