News & Resources

Unemployment remains a problem for many

Apr 03, 2012 Mike Garretson

Though the American financial situation is well on its way to recovering from the 2008 recession, many still find themselves struggling to find a job in the current economy. Recent data from the Bureau of Labor Statistics showed that only 83 percent of men aged 25 to 54 years old, worked during February. This equates to nearly 2 in 10 men of prime working age being unemployed. MSNBC said that this was a significant decrease from the 88 percent of employed men in 2007, and the over 90 percent findings between 1940 and 1970. The source does note that the low percent of men working could be because they are attending school, are disabled or taking advantage of early retirement. A debt recovery service is often dispatched to deal with citizens who have been unemployed for some time. After savings have been exhausted to pay for normal living expenses, someone without a steady stream of income often cannot pay whatever types of debt they are saddled with. It is not uncommon for such agencies to see a large upswing in business when economic conditions require job cuts.