Adding money to your bank account must seem impossible when you’re among the 9.8 percent of unemployed Americans–and have been for a while. Fortunately, if you’re innovative, you may be able to rise above the high unemployment rate and find enough success to pay your bills and even contribute to your savings account.
Unemployment Increases to 9.8 Percent
To the dismay of economists, aNovember government report released on Friday revealed that the unemployment rate had risen to 9.8 percent from 9.6 percent. The Labor Department report showed there had been some job growth in November, but not enough to stop the rate from increasing.
Part of the reason the unemployment rate increased was job cuts in the government and services sectors. According to the report, while the private sector added jobs, the government let go of 11,000 jobs and the services sector dropped 28,000 jobs.
Economists blame the low employment numbers on companies’ reluctance to commit to full-time hires. They remain uncertain about tax increases, health care costs and new regulations. With the unemployment rate moving in the wrong direction, it’s up to the unemployed to figure out how to make ends meet and feed their bank accounts.
How to Keep Money Flowing When Unemployed
Keeping money in your home when unemployed is not an easy prospect. This is especially true now that extended unemployment benefits have started phasing out as of Dec. 1.
Of course, there are no guarantees in a tougheconomy offering no goodfinancial news, but there may be some things you could do to get back on your feet:
- Look for temp work: If you’ve been unemployed for a while, you’ve probably already considered visiting a temp agency. Also, consider monopolizing on the fact that many companies don’t want to hire full-time right now and contact some directly to become a contractor.
- Work online: While the job force is struggling, the internet is flourishing. You might consider opportunities to freelance online if you have talents in blogging, technology or graphic design. There are even customer service jobs offered online. And believe it or not, many have found a lot of success from selling personalitems or working with drop shippers via onlineauctions like eBay.
- Follow your passion: If you’ve always had a dream that you didn’t follow because you were caught up in your career, now may be the time to make it a reality. Of course, it doesn’t hurt to look for work in the meantime, but many unemployed have started businesses after being laid off. So if you have a dream, you could consider this route.
Being laid off is a tough deal, but one you can overcome with creativity and determination. Look around at all of your options so being jobless won’t stop you from having the financial stability you desire.
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