Unemployment rates continue to rise. An estimated 2.6 million jobs were lost in 2008, the most since 1945. A shocking 11.1 million people were unemployed as of December 2008. In December, the unemployment rate was reported to be as high as 7.2 percent, which is up from 6.8 in November. Employers are not only cutting…
Over the past several months, most have come to realize no industry is immune from the recession we are facing. Local Pennsylvania hospitals can be added to the list of entities suffering from the present financial crisis. The Health System Association of Pennsylvania (HAP) released results of a survey conducted in December of 160 hospitals…
Our firm receives this question pretty often. So, we've decided to answer it on our blog. Yes. Filing for bankruptcy will affect your credit rating. Initially, you may see a sharp decline in your FICO score. Once your debt has been discharged, and you begin making on-time payments and wise financial decisions regarding your credit, you…
The amount of people applying for unemployment benefits increased to over 4 million in December 2008. In Pennsylvania, more than 250,000 unemployed persons are receiving unemployment benefits, and in New Jersey more than 160,000, which represents an increase of approximately 6000 recipients in both states. Economists expect the unemployment rate will continue rising as there…