Wednesday, December 12, 2012

15 Signs point to a worsening economy as we enter 2013

#1 According to numbers that were just released, the number of Americans on food stamps has risen to a new all-time record of 47.71 million. That is a huge increase of more than 600,000 over the previous reading of 47.10 million. After about a year of slow growth, it looks like the number of Americans on food stamps is starting to skyrocket once again. Back in the 1970s, about one out of every 50 Americans was on food stamps. Today, about one out of every 6.5 Americans is on food stamps. 
#2 Youth unemployment in the United States is now at the highest level that we have seen since World War II. 
#3 According to Gallup, unemployment in the United States shot up very sharply during the month of November. 
#4 It looks like the unemployment numbers are likely to get even worse. Since the election, dozens of large companies have announced major layoffs. Overall, large companies have announced the elimination of more than 100,000 jobs since November 6th. 
#5 According to the Wall Street Journal, of the 40 biggest publicly traded corporate spenders, half of them plan to reduce capital expenditures over the coming months.
Read the rest of the 15 signs HERE as well as links to the data that backs them up.

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