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The ugly data that poured forth from official sources last week demonstrate, beyond a shadow of a doubt, that the jobs situation in the United States is an unmitigated disaster.
Unemployment is far worse than the pundits dreamed possible just a few months ago — the highest official unemployment rate since 1993, the lowest weekly hours worked since 1964, the most jobs lost in a year since 1945!
Unemployment is actually 13.5% — nearly double the narrowly defined unemployment rate — if you include job seekers who have given up looking or who have been forced to accept part-time work.
Unemployment is snowballing. Layoffs beget consumer cutbacks, and consumer cutbacks beget more layoffs — a classic vicious cycle that’s gaining momentum.
Unemployment is hitting hard in January! A new, larger, wave of layoffs, postponed during the December holiday season, is hitting right now as we speak.
So if you think the announcement of 7.2% unemployment is shocking, wait till you see what’s coming next.
Millions more jobs will be lost. At the same time, retired Americans will suffer an across-the-board decline in investment income. And people of all walks of life will be scrambling to replace that money.
I don’t want that for you. As always, my team and I are committed to making sure you have a crystal-clear view of the events that will impact your financial security and independence in the twelve months ahead. More importantly, we want to give you practical solutions.
So, on Thursday, January 15, we’re hosting our premier online event of the year — a one-hour emergency video conference to give you the forecasts, strategies and tactics you need to get through this year’s intensifying crisis with your money 100% in tact.
The Big Payoff: We’ll introduce you to a strategy you can use to greatly enhance your family’s finances even as the economy continues to sink.
Here are the key facts:
Event title: 7 Startling Forecasts for 2009
Date: Thursday, January 15
Time: 12:00 Noon Eastern Time
Cost: None
To attend: You must register ahead of time. Click here.
Good luck and God bless!
Martin
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Money and Markets (MaM) is published by Weiss Research, Inc. and written by Martin D. Weiss along with Tony Sagami, Nilus Mattive, Sean Brodrick, Larry Edelson, Michael Larson and Jack Crooks. To avoid conflicts of interest, Weiss Research and its staff do not hold positions in companies recommended in MaM, nor do we accept any compensation for such recommendations. The comments, graphs, forecasts, and indices published in MaM are based upon data whose accuracy is deemed reliable but not guaranteed. Performance returns cited are derived from our best estimates but must be considered hypothetical in as much as we do not track the actual prices investors pay or receive. Regular contributors and staff include Kristen Adams, Andrea Baumwald, John Burke, Amber Dakar, Michelle Johncke, Dinesh Kalera, Red Morgan, Maryellen Murphy, Jennifer Newman-Amos, Adam Shafer, Julie Trudeau and Leslie Underwood.
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