The economy seemed to be on the road to recovery as of late, but a major setback might see that trend become curbed in the near future.
According to The Wichita Eagle, Boeing's manufacturing plant based in Wichita, Kansas, will be shut down. This will result in a loss of more than 2,000 jobs and wages of $1.5 billion over the next 10 years. "It is hard to predict the overall impact until you get down the road on an announcement like this," Jeff Fluhr, president of the Wichita Downtown Development, said in a statement. "Any time something like this happens, it creates a sense of uncertainty. People look at the market a lot harder." Although the effects of the manufacturing plant's shutdown may not be felt immediately, the loss of jobs and wages has a direct effect on the debt collection industry, as it depends on economic growth and fiscal responsibility of the consumer. Many analysts believe the recent unemployment rate decline during November will be the real trend for the near future, and Americans won't have to worry about another recession.