Unemployment Claims Increase Again
The latest Unemployment Insurance Weekly Claims Report, which was recently released by the U.S. Department of Labor, showed the bleak state of employment in the country.
Initial unemployment claims for the week ending June 18 increased 9,000 from the previous week's figure of 420,000. The four-week moving average for the category was unchanged in the latest report at 426,250.
Insured unemployment declined slightly, and stood at 3,697,000 for the week ending June 11. The previous week's figure was 3,698,000, and the four-week moving average decreased 5,250 to 3,709,500.
The insured unemployment rate for the week ending June 11 remained stagnant at 2.9 percent.
Consumers who recently lost their jobs may want to be mindful of their credit rating, as it can be ruined by credit card debt. It may be wise to abandon making any charges while unemployed, and if an unemployed person has outstanding debt, paying minimum payments until finding another job could be a smart choice.
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New government regulations in place for consumers in need of debt relief for credit cards and other unsecured debts.