Good Days May be Ahead for Pennsylvania’s Economy

Recent news reports indicate that the economy in Pennsylvania is showing slight signs of improvement. According to the state’s Department of Labor (DOL), Pennsylvania’s unemployment rate dropped to 7.5 percent in May. In addition, the DOL calculated an additional 24,000 new jobs to the state, the highest increase in month since 1983. Furthermore, DOL data showed that 9,000 fewer people filed for unemployment benefits in May. A final indicator of overall economic improvement is the unemployment which fell below 7.6 in May, the lowest since the start of the recession in 2009. Pennsylvania’s unemployment rate was even below the national average.

What do economy indicators mean to you?

The creation of jobs means that wealth is being created and distributed. New jobs are one of the best indicators of economic growth. On the contrary, if new jobs aren’t created or if people are losing their jobs, then individuals, families and the region at large may experience a depressed economic state.  Being employed with reliable income means you can pay for your general expenses, such as food, clothing, and utilities as well as meet your debt obligations.

Debt relief options

As the economy in Pennsylvania continues to show improvement, some people may still be experiencing financial challenges and need help getting out of debt. You can choose between several options to resolve your debt issues.  Among them is debt negotiation.  This process involves convincing one or more of your creditors to reduce your debt balance. Both sides benefit: you are able to pay off your debt at an amount you can afford and your creditors receive payments that may otherwise be wiped out in a bankruptcy.

An experienced Pennsylvania debt relief attorney can help you reach a successful settlement on your outstanding bills.  For a free evaluation of your debt situation, call Harold Shepley & Associates today, because you have nothing to lose but your debt.

By Harold Shepley | Published October 4, 2013 | Posted in Debt | Tagged financial literacy, financial recovery, Pennsylvania's economy | Leave a comment