http://personalmoneystore.com/moneyblog/2009/02/04/payday-loans-unemployment/ Jobless rate doesnt drive down payday loans
DENVER - SEPTEMBER 25: Unemployed and underem...
Many people are keeping a lookout for signs like this.
Given the unemployment rate and the new rounds of job cuts being announced daily, its a bit surprising that the number of people who collect payday loans continues to rise. People collecting unemployment insurance typically dont qualify for payday advance loans.
Payday loans help in credit crunch
More middle-income families are collecting payday loans nowadays. It used to be that mostly people with low incomes or bad credit utilized payday loans. Now, with bad credit taking on a whole new meaning, more people need extra cash to make ends meet. Personal loans and credit cards arent an option for as many people anymore.
Big layoffs equal big unemployment
Company: Job Cuts
* PNC bank: 5,800
* Huntington Bank: 500
* Liz Claiborne: 725
* King Pharmaceuticals: 760
* Rockwell Collins: 600
Just like any other day during the last few months, several companies announced widespread layoffs today. Between five companies a total of 8,385 jobs are being cut. This, of course, only scratches the surface of the layoffs announced today. The box to the left shows the companies and number of jobs being cut for each. Those numbers only include the number of U.S. jobs each company is cutting. To read more on this article please visit... http://personalmoneystore.com/moneyblog/2009/02/04/payday-loans-unemployment/
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