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First a job, then Christmas cheer
With jobless rate high, many facing a hard-candy Christmas
Date published: 11/27/2009
THIS MAY BE a very interesting Christmas season. Even with the national unemployment rate above 10 percent, retailers appear cautiously optimistic about holiday sales this year. At least that's what they're saying out loud. What they are thinking may be another matter entirely. The holiday shopping season--which starts today--may well be the barometer for what is to come in 2010. If sales are up, maybe the worst is indeed behind us. If shoppers don't spend, then maybe we're still in deep trouble. "Don't spend" may not be an accurate phrase. "Can't spend" may be more appropriate. How do you spend if you don't have money? And if you don't have a job and a regular paycheck, you don't have money. It used to be that you just pulled out your credit cards, but that day is all but past. Many out-of-work Americans have been living on their credit cards, and they are maxed out. Unlike five years ago, no new ones are coming in the mail. From a personal perspective, I can guarantee you that this Christmas my family won't be spending anywhere near as much as we have in years past. In fact, this Christmas will be even worse for us than last year. Two of my three children are out of work, and those of us who are employed didn't get raises last year. I watched some of those so-called "experts" shake their heads last month when consumer sentiment numbers plummeted. They couldn't understand why. Well, it was the end of October, Christmas was coming, and millions of people were out of work. To make matters worse, many people were getting their personal property and real-estate tax bills, which are due in December. You don't think those two factors weigh heavy on an unemployed person's mind? The rising unemployment rate is also putting a strain on many who are still working. Parents are helping their out-of-work children make rent and car payments to keep them afloat until they find jobs. And kids who have moved back home are creating higher energy and food bills that drive up household expenses. Sometimes parents even have to dig into their pockets to help their adult children get temporary health insurance policies. It all adds up. Actually, it all takes away--from what is available to spend for Christmas.
Date published: 11/27/2009
Makes me wonder...
(posted by
fireball
, Nov. 27, 2009 9:15 am)
I consider myself blessed. Not only am I not unemployed, but I just started a better job. It's something I've been working towards for a long time. However, I too look to the future with a need for security over stuff. In addition, I also just got my real estate and property-tax bills. My wife and I had already decided that we would take the opportunity we have to avoid assuming any more debt and go easy this year on presents, paying down our remaining bills instead. I'm sure we're not alone.
You are so right ....
(posted by
Ranko
, Nov. 27, 2009 7:24 am)
My son has been unemployed for over a year now. The hard part for me is that he wants to work but can't find anything, seems hard to believe since he fought in both Iraq & Afghastan and comes home to long lines of unemployed. I just don't have a clue when it will get any better, maybe he'll have to go to China to find work, they seem to be the only ones that have more work than workers.
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