Home > Uncategorized > Number of Americans Receiving Unemployment Tops 5 Million

Number of Americans Receiving Unemployment Tops 5 Million

Talk about a sign of the times. For the first time since record-keeping began in 1967, the number of Americans seeking unemployment benefits topped 5 million.  The number of first time claims also hit record high levels as 667,000 people applied for relief last week.  It’s kind of scary as more people lose their jobs, even fewer people are spending money, which affects the bottom line for retailers, distribution, manufacturing, etc. and lends itself to another round of layoffs so the cycle begins again.  This can’t go on forever, though it may seem like it for some families.

With his $787 billion stimulus package, President Obama claims he will save the day.  I watched his speech on Tuesday night and he seemed quite confident.  I really believe he will do anything necessary to get us out of this mess.  I’m not sure what the implications will be for our children but at least we can all get back to work.

In the midst of all this gloom and doom, companies are still hiring people and people are still buying homes so maybe it’s not the end of the world after all.  Follow me on Twitter, thejobsguy, and I will continue to alert you to open jobs all over the county everyday!  We’ll get through this!

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