Which Workers Will Be Commanding Higher Incomes in 2013?

The Chicago Tribune reported on October 4, 2012, that technology, finance and administrative workers are among the professionals who are likely to be making more money next year. A report from staffing resource company Robert Half Management Resources (company profile in the video above) said mobile applications developers will earn an average of 9 percent more in 2013, technology employees can expect a 5.3 percent boost, and accounting and finance professionals will see an average 3.3 percent increase. The Menlo Pak, a California firm, also said administrative and office support positions will see a 3.5 percent pay boost, according to the Tribune.

A separate report issued in July by management consulting firm Hay Group predicted that American workers will see a median 3 percent pay raise, according to the Tribune. However, the group noted that salary increases between 3.5 and 4 percent were common before the recession, and the expected 3 percent median raise will not do much in the face of inflation.

The Commerce Department reported that personal income grew only 0.1 percent in August, the same amount as July. Furthermore, the savings rate slipped to 3.7 percent of after-tax income after reaching 4.1 percent the previous month, the Los Angeles Times reported.

If your income is not increasing enough to keep up with rising gas prices, mortgage payments and all of your other bills, you may be able to discharge you unsecured debt by filing Chapter 7 or Chapter 13 bankruptcy . You can use the form on this page to let our Chicago bankruptcy lawyers determine whether Chapter 7 or Chapter 13 works best for you, or you can contact our firm today at (866) 930-7482.

Benjamin Brand Services – Chicago bankruptcy attorneys

New Employment, Construction Reports Offer Hope

There were a couple signs of hope for the economy as new claims for jobless benefits hit a seven-month low and permits for future home construction rebounded strongly in October, Reuters reported on November 17, 2011. The Labor Department said initial claims for state unemployment benefits fell 5,000 to a seasonally adjusted 388,000, while the Commerce Department said permits for residential construction rose 10.9 percent to a seasonally adjusted annual rate of 653,000 in October.

While the news is not cutting into the 9 percent unemployment rate, Reuters noted that it was the second straight week that initial claims have held below the 400,000 mark “normally associated with some healing in the jobs market.” Furthermore, the four-week moving average of claims, considered a better measure of labor market trends, was the lowest since April after falling 4,000 to 396,750.

These figures would hopefully indicate more people getting back to work and hopefully less people needing foreclosure help . However, Reuters noted that there are still 6.77 million people who were claiming unemployment benefits during the week ended October 29 under all unemployment programs. Homeowners facing foreclosure because of a job loss need to understand that they still have options while the economy slowly makes a recovery. Let our Chicago bankruptcy attorney show you how you can keep your home and reestablish credit by filing Chapter 7 or Chapter 13 bankruptcy.

Benjamin Brand Services – Chicago bankruptcy lawyer

Housing Starts Surge in September, But Not Enough to Single Recovery

A surge in volatile apartment construction drove homes to be built in September at the fastest pace in 17 months, the USA Today reported on October 19, 2011. While single-family home construction rose only slightly and building permits fell to a five-month low, the Commerce Department said privately owned homes were started at a 658,000 annual rate last month. According to USA Today, that is a 15 percent increase from August and roughly half the 1.2 million that economists say is consistent with healthy housing markets.

New-home sales, however, hit a six-month low by falling in August to a seasonally adjusted annual rate of 295,000. USA Today said this year is shaping up to be the worst since the government began keeping records a half-century ago.

For every news item that hints at economic improvement, does it seem like you are still waiting to feel the benefits? If you are struggling through hard times and want to end creditor harassment, you can get deserved relief today by filing for Chapter 13 or Chapter 7 bankruptcy. In order to eliminate bills and stop foreclosure, the first step could be a bankruptcy means test . Our Chicago bankruptcy lawyers can assist you in getting the foreclosure help you have been seeking when you contact our office to set up an initial consultation.

Benjamin Brand Services – Chicago bankruptcy attorneys

GDP Growth Is Weak, But Improved

The third and final estimate for the quarter from the Commerce Department “pointed to slow growth rather than a recession” as consumer spending and export growth helped gross domestic product grow at an annual rate of 1.3 percent, Reuters reported on September 29, 2011. Export growth rose at a 3.6 percent rate while imports increased at a 1.4 percent rate, leaving a smaller trade deficit. Trade contributed 0.24 percentage point to GDP growth, Reuters said. After increasing 2.4 percent in the first quarter, gross domestic income also rose at a 1.3 percent rate in the second quarter. Reuters said details of the GDP revisions “were consistent with an economy that is on a slow growth track rather than sliding back into recession.”

While revisions to calculating the GDP can eventually produce positive news, perhaps you are not having such luck with diagnosing your own financial situation. Whether you are in desperate need of foreclosure help or have been experiencing long-term unemployment, you might find that no matter how you twist the numbers, you still cannot meet your financial obligations. Our Chicago bankruptcy lawyers have decades of experience helping clients deal with all the problems associated with bankruptcy . If you are tired of waiting for a more concrete sign that the economy has recovered, our Chicago bankruptcy attorneys can show you how a Chapter 7 or Chapter 13 bankruptcy could help you prevent car repossession or wage garnishment. How has the economy affected you and your family? Does GDP growth make you more optimistic?

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