February 18th, 2009 
Vijaianand We all hear about the bad Economy every day in the news and how it is going to get worse more before we see a light at the end of the tunnel. We hear in every party conversations economy is a part of it these days. It is so bad that people are stressed out worrying for making their living. There is also a big hope on the so called STIMULUS Plan 2.0 which is expected to jump start the economy.
Whether it will really work or not, we all have fingers crossed to wait and watch. But whatever happens, we the ordinary consumers (low&middle class people) have to go on with our life, work our jobs, even harder than before to stay in them, make the dollar to feed our family and take care of our life. So it doesn’t change a darn things except we can only pray for our jobs to stay and prices to go down on essentials.
I know many of you like me are interested checking out how bad or good is the economy actually from the ordinary persons real life perspective.
Economy is so bad,
Let me start with a lighter note. I heard sales on Hair cuts by Great Clips. They are offering $5.99 for all ages starting this Feb till end. It is one of the biggest Hair Salon chain having 2700 locations around the nation. If they are running deals, that means they are down on sales which in turn tells people aren’t spending a lot these days for extras not even cutting hair to look good. Interesting but true and fact sales on every market is affected by this downturn.
Economy is so bad,
In December, the number of unemployed persons increased by 632,000 to 11.1 million and the unemployment rate rose to 7.2 percent. Since the start of the recession in December 2007, the number of unemployed persons has grown by 3.6 million, and the unemployment rate has risen by 2.3 percentage points.
Nonfarm payroll employment declined sharply in December, and the unemployment rate rose from 6.8 to 7.2 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Payroll employment fell by 524,000 over the month and by 1.9 million over the last 4 months of 2008. In December, job losses were large and widespread across most major industry sectors. (Household Survey Data)
Economy is so bad,
In 2008, the number of identity theft cases jumped 22 percent to 9.9 million, according to a study released yesterday by Javelin Strategy&Research. The good news is that the cost per incident – including unrecovered losses and legal fees – fell 31 percent to $496.
Crimes of opportunity, such as stolen wallets, were linked to 43 percent of cases last year, up from 33 percent in 2007. That might be why women were 26 percent more likely to be victims of identity theft; they reported more cases of lost or stolen information during in-store purchases. Online access accounted for only 11 percent of cases, according to the survey.
Economy is so bad,
US Automakers like Crysler, GM are asking for more money to save their company and the thousands of jobs in Detroit. Many banks gone resolvant and big companies like Circuit City gone bankrupt. Many more too follow.
The list goes on and on. We will Continue in Part 2. If you want to add it, please add as your comment.
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