One of the big issues in this election year is jobs. Here in Kansas, citizens are reviewing the results of the 2012 Kansas Economic Report. Though the state unemployment rate has dropped since 2011, those still seeking employment remain concerned about Kansas’ job growth rate. Failure to secure employment puts these citizens in danger of losing homes or even bankruptcy.
Overall, the numbers are encouraging for Kansas. While state and local government jobs have been cut steeply, private sector growth is up. According to a Labor Department economist, Kansas has seen a good pace for economic recovery in part because the state started their recession later than most of the country. The state unemployment rate is predicted to be under six percent in 2013 versus the eight percent national average.
The downside of the report was in the wage news. Though Kansas salaries have increased, they have not kept pace with the rate of inflation.
Despite the good news about Kansans relatively better employment numbers, an unemployment rate of greater than six percent means that a lot of Kansans are looking for jobs. That is significant because one of the most common reasons cited for filing for bankruptcy is the loss of a job.
For these Kansans filing for Chapter 7 bankruptcy may be the right choice. For example, Kansans who are experiencing harassing phone calls, mounting medical bills or other financial issues may be able to put all of that behind them by filing for bankruptcy. Filing for bankruptcy puts an immediate halt to creditor harassment and starts the process towards a fresh financial start.
Source: The Topeka Capital-Journal, “Labor report: More jobs, lower ‘real’ wages,” Andy Marso, Oct. 1, 2012