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Economy

Current Rates, News & Information

Posted in Economy, Financial News

According to a new survey, jobs lost in the recession won't return until 2012 or beyond. The survey, conducted by the National Association for Business Economics, reported that the over 7.2 million jobs lost will likely make a recovery, but it will be a very gradual process.

Of the 44 economists polled for the survey, only a small portion thought we would see a full recovery before 2012. Here is a breakdown of the poll:

  • 8 percent polled thought we would see a full job recovery before 2012.
  • 54 percent thought the job loss would be fully reversed by 2012.
  • 33 percent project that we would see a reversal until 2013.
  • 5 percent thought recovery would take even longer.

The reason that the majority of economists foresee recovery no earlier than 2012 is because it will take some time for the financial markets to bounce back. Most of the panel didn't foresee this occurring between 2011 and 2013. Also, companies are still laying people off, meaning unemployment hasn't even reached its peak yet.

The economists do predict recoveries in other areas earlier than 2012. For instance, they predict the housing market will have a 2 percent gain in 2010. They think it will be a major contribution to the overall growth of the economy.

The good news is that there are some jobs out there that are hanging in there despite this tough economic time. So if you're looking to switch careers or expand on your current one, here is a short list of the best jobs in America that are still in high demand and pay, according to Payscale.com:

  • Anesthesiologist (Median pay: $292,900; Top pay: $408,000)
  • Psychiatrist (Median pay: $177,000; Top pay: $279,000)
  • Sales Director (Median pay: $140,000; Top pay: $239,000)
  • Actuary (Median pay: $129,000; Top pay: $275,000)
  • Software Architect (Median pay: $117,000; Top pay: $166,000)
  • Insurance Broker (Median pay: $114,000; Top pay: $273,000)

While the job market may be moving slowly, it's good to know some industries are still hanging in there - and still offer higher-than-average pay for your hard work.


Posted in Economy

With such a frightening year for finances, we thought it only appropriate to feature the blingin'-est costumes.Whether you've lost a lot in the Recession or found Lady Luck on your side - here's our picks for the best finance-themed Halloween costumes:

  1. Golddigger

    The perfect "career" option if you're surviving a layoff or took a beating in the market this year.

    gold-digging-girl-costume

  2. Investment Banker Bum

    An easy last-minute costume that makes a clever commentary on the financial state of the nation.
    ibanker-bum

  3. Money Flusher

    A toilet costume made even more appropriate with "NASDAQ" scrawled on the seat and money overflowing from the bowl.
    money-flusher

  4. Bank Robber

    You may have considered becoming one this year already and if you look like her, there's probably plenty who will be happy to oblige a little robbery.
    bank-robber-costume

  5. Mount Rushmore

    For when you're feeling short on dead presidents in your life.
    mount-rushmore-halloween-costume

  6. Pimp

    There's always this option for the jobless.
    pimp-costume

  7. Matthew Lesko

    He's the man behind the "Free Government Money" books a.k.a. "That Question Mark Guy."
    mattlesko-cropped

  8. Donald Trump

    Be a real jerk and tell your 1 in 10 already unemployed friends, "you're fired!"
    donald-trump-costume

  9. Money Bag

    Whose baby isn't one?
    money-bag-baby-costume

  10. Credit Card

    The perfect costume for when you want to express your happiness over the new credit card regulations.
    credit-card-costume

  11. Robin Hood

    Who doesn't love a guy who steals from the rich to give to the poor?
    robin_hood_costume

  12. Money

    There's no costume more money than money, unless your name is Bill.
    money-costume

  13. Blingin' Gangsta Rapper

    You can always fool people into believing that you're not slumming with a few CZs and flossin' your swagger.
    bling

  14. Uncle Sam

    A fitting way to celebrate our tax credits, like the soon-to-end first-time homebuyers tax credit.
    uncle-sam-costume

  15. Lady Luck

    We all could use a little from this maiden.
    lady-luck

  16. and... if splurging on a costume seems a bit too fiscally irresponsible, you can settle for this shirt:

    credit-crunch-costume


Posted in Credit Card Rates, Economy, Financial News

According to new data from the Federal Reserve, consumers are dumping their credit cards and slowing down on other types of borrowing at a faster-than-expected pace. In August alone, consumers cut $11.8 billion in borrowing, which represents a 5.8 percent annual rate of decline.

But why are...



Read Full Article: Consumers Dumping Credit Cards, Choosing Alternate Payment Options

Posted in Economy, Financial News

The push in September 2009 to extend unemployment benefits before approximately 400,000 workers from last year's layoffs lost theirs at the end of the month wasn't successful - and unfortunately, the extension has yet to be confirmed. This is due to a long-standing debate in Senate as to how...



Read Full Article: Unemployment Benefits Extension Stalls in Senate

Posted in Economy, Financial News, Lenders, Loans

In an effort to help homeowners modify their mortgage loans, some lenders are taking steps to lower the principal amount, according to a new report from the Office of the Comptroller of the Currency (OCC). The report shows that while many lenders are taking the route of temporarily suspending...



Read Full Article: Lenders Lowering Principal to Modify Mortgage Loans

Posted in Economy, Financial News

On the heels of learning that 263,000 more jobs were lost in September, Federal Reserve Chairman Alan Greenspan says to expect unemployment to top 10 percent. However, he notes that despite the fact that unemployment reached 9.8% in September - the highest figure since 1983 - the economy is...



Read Full Article: Greenspan Says Unemployment Set to Top 10%

If you have yet to take advantage of the tax credit for first-time home buyers, time is running out. The deadline to benefit from the sizable credit of up to $8,000 that was included as a part of the American Recovery and Reinvestment Act is November 30th, 2009.

While many have gone out and...



Read Full Article: Tax Credit for First-Time Homebuyers Expires Nov. 30th

Posted in Economy, Financial News, Saving Money, Savings Account

With recent reports that consumer confidence was down in September 2009, many retailers are trying to get back on the consumers' good side with early holiday specials . By offering some deals that offer cash back for spending in the coming months, consumers may come away with more than gifts for...



Read Full Article: Retailers Dish Out Early Holiday Deals Ways to Save

Posted in Economy, Financial News

The U.S. consumer confidence index dropped from 54.5 to 53.1 between August and September, representinga growing concern among Americans in relation to the economy, their job prospects, and their income. According the The Conference Board,an independenteconomic research organization thatreleases...



Read Full Article: Consumer Confidence Drops in September

Posted in Economy, Financial News, Retirement, Social Security

Seniors receiving their social security checks in January 2010 may be disappointed to find that for the first time in three decades they won't receive their cost-of-living adjustment. The 2-3 percent increase usually hits checks in January of each year in order to keep up with inflation;...



Read Full Article: Social Security Checks Won't Receive Annual Cost-of-Living Increase

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