Sales Decrease, Foreclosures Increase, And Unemployment Claims Surge

August 13, 2009

US (ChattahBox) – Despite recent reports that show that layoffs are finally slowing, other areas of the economy are showing further decline.

The number of claims being put in by the unemployed for financial assistance sudden jumped, while retail sales decreased.

The result is a disappointing one, as economists had been hoping for a 0.7% increase in sales last month, rather than a 0.1% dip.

The numbers are believed to be due to the fact that more families are seeking assistance, while putting whatever extra income they do have into paying off debts, and saving for future bills or possible complications.

“Households are in no position to drive a decent economic recovery,” Paul Dales of Capital Economics was quoted by the Associated Press.

While the tone from the White House remains optimistic, more homes are being foreclosed, less products are being bought, and jobs are still being lost. The crisis still has a long way to go towards recovery.


Comments

Got something to say? **Please Note** - Comments may be edited for clarity or obscenity, and all comments are published at the discretion of ChattahBox.com - Comments are the opinions of the individuals leaving them, and not of ChattahBox.com or its partners. - Please do not spam or submit comments that use copyright materials, hearsay or are based on reports where the supposed fact or quote is not a matter of public knowledge are also not permitted.